Passage Bio (PASG) Projected to Post Earnings on Monday

Passage Bio (NASDAQ:PASG) is projected to announce its earnings results before the market opens on Monday, March 3rd. Analysts expect the company to announce earnings of ($0.21) per share for the quarter.

Passage Bio Stock Performance

PASG stock opened at $0.52 on Friday. Passage Bio has a 1 year low of $0.45 and a 1 year high of $1.79. The stock has a market capitalization of $32.00 million, a price-to-earnings ratio of -0.44 and a beta of 1.54. The stock’s fifty day moving average is $0.60 and its two-hundred day moving average is $0.65.

Insider Buying and Selling

In other Passage Bio news, major shareholder Lynx1 Capital Management Lp acquired 373,645 shares of the 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 directly owns 9,256,953 shares of the company’s stock, valued at approximately $6,017,019.45. This trade represents a 4.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Orbimed Advisors Llc sold 76,200 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $0.79, for a total transaction of $60,198.00. Following the sale, the insider now directly owns 7,718,369 shares of the company’s stock, valued at approximately $6,097,511.51. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 620,368 shares of company stock valued at $421,921 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PASG has been the topic of a number of recent analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Passage Bio in a report on Thursday, November 14th. Wedbush began coverage on Passage Bio in a research report on Friday, November 29th. They set an “outperform” rating and a $4.00 price target for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $13.00 price target on shares of Passage Bio in a research note on Thursday, November 14th.

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.