Passage Bio (NASDAQ:PASG) Stock Price Down 5.5%

Passage Bio, Inc. (NASDAQ:PASG) shares fell 5.5% on Thursday . The stock traded as low as $1.14 and last traded at $1.20. 122,362 shares were traded during mid-day trading, a decline of 67% from the average session volume of 370,199 shares. The stock had previously closed at $1.27.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price objective on shares of Passage Bio in a report on Tuesday, March 5th.

Passage Bio Stock Performance

The company’s fifty day simple moving average is $1.37 and its two-hundred day simple moving average is $0.99.

Passage Bio (NASDAQ:PASG) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.11. Equities analysts forecast that Passage Bio, Inc. will post -1.27 EPS for the current year.

Institutional Investors Weigh In On Passage Bio

Several institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its stake in shares of Passage Bio by 4.6% in the 3rd quarter. Marshall Wace LLP now owns 193,650 shares of the company’s stock worth $242,000 after acquiring an additional 8,536 shares in the last quarter. Federated Hermes Inc. grew its position in Passage Bio by 9,044.2% in the 1st quarter. Federated Hermes Inc. now owns 9,510 shares of the company’s stock worth $29,000 after purchasing an additional 9,406 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Passage Bio by 7.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 147,545 shares of the company’s stock valued at $458,000 after buying an additional 9,808 shares during the last quarter. Prelude Capital Management LLC lifted its position in shares of Passage Bio by 72.1% during the 2nd quarter. Prelude Capital Management LLC now owns 25,130 shares of the company’s stock worth $59,000 after buying an additional 10,530 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Passage Bio during the 2nd quarter worth approximately $27,000. Institutional investors own 53.48% of the company’s stock.

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.