Passage Bio (PASG) to Release Earnings on Monday

Passage Bio (NASDAQ:PASG) is anticipated to announce its earnings results before the market opens on Monday, March 3rd. Analysts expect the company to announce earnings of ($0.21) per share for the quarter.

Passage Bio Stock Down 4.6 %

Shares of NASDAQ PASG opened at $0.52 on Monday. The business has a fifty day simple moving average of $0.62 and a two-hundred day simple moving average of $0.66. The firm has a market cap of $32.42 million, a PE ratio of -0.45 and a beta of 1.54. Passage Bio has a twelve month low of $0.45 and a twelve month high of $1.79.

Insider Activity

In other Passage Bio news, major shareholder Lynx1 Capital Management Lp bought 373,645 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $0.65 per share, for a total transaction of $242,869.25. Following the purchase, the insider now directly owns 9,256,953 shares in the company, valued at $6,017,019.45. This represents a 4.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Orbimed Advisors Llc sold 76,200 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $0.79, for a total value of $60,198.00. Following the transaction, the insider now owns 7,718,369 shares in the company, valued at approximately $6,097,511.51. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 620,368 shares of company stock worth $421,921. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PASG shares. Wedbush started coverage on Passage Bio in a research report on Friday, November 29th. They set an “outperform” rating and a $4.00 target price for the company. Chardan Capital reaffirmed a “buy” rating and set a $7.00 target price on shares of Passage Bio in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $13.00 price target on shares of Passage Bio in a report on Thursday, November 14th.

Passage Bio Company Profile

Passage Bio, Inc, a genetic medicines company, develops gene therapies for central nervous system diseases. It develops PBGM01, a functional GLB1 gene encoding ß-galactosidase for infantile GM1; PBFT02, a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD caused by progranulin deficiency; and PBKR03, a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease.