FY2029 Earnings Forecast for Passage Bio Issued By Wedbush

Passage Bio, Inc. (NASDAQ:PASG) – Investment analysts at Wedbush issued their FY2029 earnings per share estimates for shares of Passage Bio in a research report issued on Tuesday, March 4th. Wedbush analyst Y. Zhong expects that the company will post earnings per share of ($0.40) for the year. Wedbush currently has a “Outperform” rating and a $4.00 price target on the stock. The consensus estimate for Passage Bio’s current full-year earnings is ($1.03) per share.

A number of other equities research analysts have also recently weighed in on PASG. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Chardan Capital cut their target price on Passage Bio from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday.

Passage Bio Stock Down 0.0 %

Shares of NASDAQ:PASG opened at $0.47 on Thursday. Passage Bio has a fifty-two week low of $0.38 and a fifty-two week high of $1.72. The company has a market cap of $29.03 million, a PE ratio of -0.40 and a beta of 1.55. The company’s 50-day moving average price is $0.59 and its 200 day moving average price is $0.64.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01.

Insider Activity

In other Passage Bio news, major shareholder Lynx1 Capital Management Lp acquired 373,645 shares of Passage Bio stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $0.65 per share, for a total transaction of $242,869.25. Following the transaction, the insider now owns 9,256,953 shares in the company, valued at approximately $6,017,019.45. This trade represents a 4.21 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Orbimed Advisors Llc sold 230,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $0.60, for a total transaction of $138,192.60. Following the completion of the sale, the insider now owns 7,404,869 shares in the company, valued at $4,442,921.40. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,265 shares of company stock worth $344,583 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Passage Bio

A number of large investors have recently added to or reduced their stakes in PASG. Geode Capital Management LLC increased its holdings in shares of Passage Bio by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 531,565 shares of the company’s stock valued at $302,000 after buying an additional 22,049 shares in the last quarter. Northern Trust Corp raised its position in shares of Passage Bio by 55.1% during the fourth quarter. Northern Trust Corp now owns 62,476 shares of the company’s stock worth $35,000 after purchasing an additional 22,195 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Passage Bio by 129.5% during the fourth quarter. Squarepoint Ops LLC now owns 64,099 shares of the company’s stock valued at $36,000 after purchasing an additional 36,172 shares during the last quarter. Vestal Point Capital LP boosted its position in shares of Passage Bio by 0.8% in the 3rd quarter. Vestal Point Capital LP now owns 6,100,000 shares of the company’s stock valued at $4,270,000 after purchasing an additional 48,000 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Passage Bio by 983.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 54,479 shares of the company’s stock worth $31,000 after purchasing an additional 49,449 shares in the last quarter. 53.48% of the stock is currently owned by institutional investors.

About Passage Bio

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.