Passage Bio (NASDAQ:PASG) Trading 9.6% Higher

Passage Bio (NASDAQ:PASG) traded up 9.6% during mid-day trading on Thursday . The company traded as high as $14.99 and last traded at $14.37. 295,374 shares were traded during mid-day trading, an increase of 35% from the average session volume of 219,409 shares. The stock had previously closed at $13.11.

A number of analysts have issued reports on the stock. Chardan Capital reiterated a “buy” rating and issued a $32.50 price target on shares of Passage Bio in a report on Thursday, August 13th. Goldman Sachs Group lowered shares of Passage Bio from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. lowered shares of Passage Bio from an “overweight” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Friday, August 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.13.

The firm’s 50-day moving average price is $15.06 and its two-hundred day moving average price is $19.17.

Passage Bio (NASDAQ:PASG) last announced its earnings results on Thursday, August 13th. The company reported ($0.60) EPS for the quarter, meeting analysts’ consensus estimates of ($0.60). Analysts forecast that Passage Bio will post -2.98 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Passage Bio during the 2nd quarter worth $26,000. Ameritas Investment Partners Inc. purchased a new stake in Passage Bio during the second quarter worth $33,000. Great West Life Assurance Co. Can purchased a new stake in Passage Bio during the second quarter worth $40,000. SG Americas Securities LLC purchased a new stake in Passage Bio during the second quarter worth $122,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Passage Bio during the second quarter valued at $124,000. Institutional investors and hedge funds own 69.43% of the company’s stock.

About Passage Bio (NASDAQ:PASG)

Passage Bio, Inc, a genetic medicines company, focuses on developing transformative therapies for rare monogenic central nervous system (CNS) diseases. It has a research, collaboration, and license agreement with the University of Pennsylvania and its gene therapy program. The company was founded in 2017 and is based in Philadelphia, Pennsylvania.

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