Passage Bio, Inc. (NASDAQ:PASG) Expected to Post Q1 2024 Earnings of ($0.33) Per Share

Passage Bio, Inc. (NASDAQ:PASGFree Report) – Equities researchers at Wedbush lifted their Q1 2024 earnings per share (EPS) estimates for shares of Passage Bio in a research note issued on Monday, March 4th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($0.33) for the quarter, up from their previous forecast of ($0.41). The consensus estimate for Passage Bio’s current full-year earnings is ($1.35) per share. Wedbush also issued estimates for Passage Bio’s Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.21) EPS, Q4 2024 earnings at ($0.21) EPS, FY2024 earnings at ($1.03) EPS, FY2025 earnings at ($0.84) EPS, FY2026 earnings at ($0.78) EPS and FY2027 earnings at ($0.58) EPS.

A number of other analysts also recently commented on the company. Raymond James decreased their target price on Passage Bio from $9.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 14th. Canaccord Genuity Group restated a “buy” rating and set a $14.00 target price on shares of Passage Bio in a report on Tuesday.

Read Our Latest Research Report on Passage Bio

Passage Bio Price Performance

Passage Bio stock opened at $1.71 on Thursday. The business has a fifty day moving average of $1.13 and a two-hundred day moving average of $0.85. Passage Bio has a one year low of $0.58 and a one year high of $1.79.

Institutional Investors Weigh In On Passage Bio

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Passage Bio by 9.4% during the third quarter. Vanguard Group Inc. now owns 2,017,050 shares of the company’s stock valued at $2,521,000 after buying an additional 173,537 shares during the period. Renaissance Technologies LLC grew its position in shares of Passage Bio by 23.0% in the third quarter. Renaissance Technologies LLC now owns 1,261,400 shares of the company’s stock valued at $1,577,000 after purchasing an additional 235,795 shares during the period. JPMorgan Chase & Co. increased its stake in Passage Bio by 31.0% in the first quarter. JPMorgan Chase & Co. now owns 777,538 shares of the company’s stock valued at $2,410,000 after purchasing an additional 184,079 shares during the last quarter. State Street Corp boosted its stake in Passage Bio by 6.1% in the 1st quarter. State Street Corp now owns 760,352 shares of the company’s stock worth $2,357,000 after buying an additional 43,719 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Passage Bio by 4.5% during the 3rd quarter. Acadian Asset Management LLC now owns 604,678 shares of the company’s stock worth $396,000 after acquiring an additional 25,872 shares during the period. 61.56% of the stock is owned by institutional investors and hedge funds.

About Passage Bio

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Passage Bio, Inc, a genetic medicines company, develops transformative 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.

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Earnings History and Estimates for Passage Bio (NASDAQ:PASG)

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