Passage Bio (NASDAQ:PASG) Stock Price Up 11.4%

Passage Bio, Inc. (NASDAQ:PASG)’s stock price traded up 11.4% during trading on Monday . The stock traded as high as $0.93 and last traded at $0.89. 317,551 shares changed hands during trading, an increase of 19% from the average session volume of 267,763 shares. The stock had previously closed at $0.79.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their price target on shares of Passage Bio from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th.

Passage Bio Trading Up 11.4 %

The stock has a market cap of $54.55 million, a price-to-earnings ratio of -0.58 and a beta of 1.25. The stock’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.18.

Passage Bio (NASDAQ:PASG) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. As a group, analysts predict that Passage Bio, Inc. will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PASG. Vanguard Group Inc. increased its stake in shares of Passage Bio by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,071,538 shares of the company’s stock valued at $2,797,000 after acquiring an additional 52,656 shares in the last quarter. Affinity Asset Advisors LLC bought a new stake in shares of Passage Bio in the 1st quarter valued at $357,000. Acadian Asset Management LLC increased its stake in shares of Passage Bio by 59.0% in the 1st quarter. Acadian Asset Management LLC now owns 961,271 shares of the company’s stock valued at $1,296,000 after acquiring an additional 356,593 shares in the last quarter. Pale Fire Capital SE increased its stake in shares of Passage Bio by 489.1% in the 4th quarter. Pale Fire Capital SE now owns 581,257 shares of the company’s stock valued at $587,000 after acquiring an additional 482,595 shares in the last quarter. Finally, Lynx1 Capital Management LP increased its stake in shares of Passage Bio by 1,178.1% in the 1st quarter. Lynx1 Capital Management LP now owns 4,845,871 shares of the company’s stock valued at $6,542,000 after acquiring an additional 4,466,712 shares in the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

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.