Passage Bio (NASDAQ:PASG) CEO William Chou Sells 4,076 Shares

Passage Bio, Inc. (NASDAQ:PASG) CEO William Chou sold 4,076 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.44, for a total transaction of $75,161.44. Following the completion of the transaction, the chief executive officer owned 6,524 shares in the company, valued at $120,302.56. This trade represents a 38.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Passage Bio Stock Down 9.8%

PASG traded down $1.94 during trading on Monday, hitting $17.91. The company’s stock had a trading volume of 82,426 shares, compared to its average volume of 159,525. The business’s 50 day simple moving average is $10.04 and its 200-day simple moving average is $8.24. The firm has a market cap of $56.94 million, a PE ratio of -1.24 and a beta of 1.76. Passage Bio, Inc. has a one year low of $5.12 and a one year high of $20.00.

Passage Bio (NASDAQ:PASG) last announced its earnings results on Monday, November 10th. The company reported ($2.44) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. Equities research analysts expect that Passage Bio, Inc. will post -1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Passage Bio

A hedge fund recently bought a new stake in Passage Bio stock. Squarepoint Ops LLC acquired a new stake in shares of Passage Bio, Inc. (NASDAQ:PASG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 23,500 shares of the company’s stock, valued at approximately $188,000. Squarepoint Ops LLC owned about 0.74% of Passage Bio as of its most recent SEC filing. Institutional investors own 53.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PASG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Passage Bio in a report on Monday, December 29th. Chardan Capital raised their price objective on shares of Passage Bio to $21.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.67.

About Passage Bio

Passage Bio is a clinical-stage biotechnology company focused on the development of gene therapies to treat rare, monogenic central nervous system and neuromuscular disorders. The company applies its in-house gene therapy platform to design and engineer adeno-associated virus (AAV)–based vectors that restore or replace defective genes, aiming to deliver durable treatments with a single administration.

The company’s lead programs include PBGM01, an AAV9-based therapy for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), which is conducting a first-in-human study to assess safety and potential therapeutic benefit.