Passage Bio, Inc. (NASDAQ:PASG) Sees Significant Decrease in Short Interest
by Sarita Garza · The Markets DailyPassage Bio, Inc. (NASDAQ:PASG – Get Free Report) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 11,220 shares, a decline of 25.9% from the January 15th total of 15,142 shares. Based on an average daily volume of 53,681 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 53,681 shares, the short-interest ratio is presently 0.2 days.
Insider Buying and Selling at Passage Bio
In other news, CEO William Chou sold 4,076 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $18.44, for a total transaction of $75,161.44. Following the transaction, the chief executive officer owned 6,524 shares of the company’s stock, valued at $120,302.56. This represents a 38.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.30% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Passage Bio by 15.1% in the 4th quarter. Geode Capital Management LLC now owns 31,397 shares of the company’s stock valued at $371,000 after purchasing an additional 4,114 shares during the period. Renaissance Technologies LLC grew its position in Passage Bio by 8.2% during the fourth quarter. Renaissance Technologies LLC now owns 109,089 shares of the company’s stock valued at $1,287,000 after buying an additional 8,300 shares during the period. Nano Cap New Millennium Growth Fund L P bought a new position in Passage Bio during the fourth quarter valued at about $118,000. Finally, Squarepoint Ops LLC purchased a new stake in Passage Bio during the third quarter worth about $188,000. Hedge funds and other institutional investors own 53.48% of the company’s stock.
Passage Bio Stock Up 0.9%
PASG stock traded up $0.08 during trading on Monday, reaching $8.81. The stock had a trading volume of 12,209 shares, compared to its average volume of 50,129. The company has a market capitalization of $28.02 million, a price-to-earnings ratio of -0.61 and a beta of 1.72. Passage Bio has a one year low of $5.12 and a one year high of $20.00. The company’s 50 day moving average is $11.83 and its two-hundred day moving average is $9.08.
Wall Street Analyst Weigh In
PASG has been the topic of a number of recent research reports. Chardan Capital started coverage on shares of Passage Bio in a research note on Tuesday, February 10th. They issued a “buy” rating and a $21.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Passage Bio in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Passage Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.
View Our Latest Stock Report on Passage Bio
Passage Bio Company Profile
Passage Bio is a clinical-stage biotechnology company focused on the development of gene therapies to treat rare, monogenic central nervous system and neuromuscular disorders. The company applies its in-house gene therapy platform to design and engineer adeno-associated virus (AAV)–based vectors that restore or replace defective genes, aiming to deliver durable treatments with a single administration.
The company’s lead programs include PBGM01, an AAV9-based therapy for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), which is conducting a first-in-human study to assess safety and potential therapeutic benefit.