FY2029 Earnings Estimate for Passage Bio Issued By Wedbush

Passage Bio, Inc. (NASDAQ:PASG) – Investment analysts at Wedbush issued their FY2029 earnings per share (EPS) estimates for shares of Passage Bio in a research report issued to clients and investors on Tuesday, March 4th. Wedbush analyst Y. Zhong anticipates 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.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price target on shares of Passage Bio in a research report on Thursday, November 14th. Chardan Capital decreased their target price on Passage Bio from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday.

Passage Bio Stock Up 10.5 %

Shares of PASG opened at $0.47 on Thursday. The firm has a market cap of $29.04 million, a price-to-earnings ratio of -0.40 and a beta of 1.55. The business’s 50 day moving average is $0.59 and its two-hundred day moving average is $0.64. Passage Bio has a 52-week low of $0.38 and a 52-week high of $1.79.

Insiders Place Their Bets

In other news, major shareholder Lynx1 Capital Management Lp acquired 373,645 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $0.65 per share, with a total value of $242,869.25. Following the purchase, the insider now owns 9,256,953 shares of the company’s stock, valued at approximately $6,017,019.45. This represents a 4.21 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Orbimed Advisors Llc sold 54,181 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $0.84, for a total value of $45,512.04. Following the completion of the sale, the insider now owns 7,643,285 shares of the company’s stock, valued at approximately $6,420,359.40. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 544,168 shares of company stock valued at $361,723 over the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Passage Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in PASG. Tower Research Capital LLC TRC boosted its stake in shares of Passage Bio by 983.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 54,479 shares of the company’s stock worth $31,000 after acquiring an additional 49,449 shares in the last quarter. Northern Trust Corp lifted its holdings 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 valued at $35,000 after purchasing an additional 22,195 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Passage Bio by 129.5% in the 4th 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 period. Landscape Capital Management L.L.C. acquired a new stake in Passage Bio during the 3rd quarter worth about $38,000. Finally, Jane Street Group LLC lifted its stake in Passage Bio by 537.2% during the fourth quarter. Jane Street Group LLC now owns 78,190 shares of the company’s stock valued at $44,000 after buying an additional 65,919 shares in the last quarter. 53.48% of the stock is owned by institutional investors and hedge funds.

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.