Passage Bio (NASDAQ:PASG) Posts Earnings Results, Beats Expectations By $0.96 EPS

Passage Bio (NASDAQ:PASG) announced its earnings results on Tuesday. The company reported ($1.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.43) by $0.96, FiscalAI reports.

Passage Bio Price Performance

Shares of NASDAQ PASG traded up $0.19 during midday trading on Tuesday, hitting $3.62. The stock had a trading volume of 22,454 shares, compared to its average volume of 59,622. The company’s 50-day simple moving average is $4.15 and its 200 day simple moving average is $6.05. The firm has a market cap of $11.65 million, a P/E ratio of -0.32 and a beta of 1.51. Passage Bio has a fifty-two week low of $3.29 and a fifty-two week high of $20.00.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Passage Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, November 2nd. Wall Street Zen downgraded shares of Passage Bio from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Passage Bio presently has an average rating of “Hold” and a consensus target price of $13.25.

Passage Bio Company Profile

Passage Bio, Inc is a clinical-stage biotechnology company focused on developing gene therapies for diseases of the central nervous system. The company uses adeno-associated virus (AAV) delivery technologies to develop treatments intended to address the underlying genetic causes of severe neurological and neurodegenerative disorders.

Its research programs have included PBGM01, an investigational gene therapy for GM1 gangliosidosis, a rare inherited disorder caused by mutations affecting the GLB1 gene.