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

Passage Bio, Inc. (NASDAQ:PASG)’s stock price dropped 5.5% on Thursday . The company traded as low as $1.14 and last traded at $1.20. Approximately 122,362 shares traded hands during trading, a decline of 67% from the average daily volume of 370,199 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

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

Passage Bio Stock Performance

The company has a market capitalization of $73.93 million, a PE ratio of -0.65 and a beta of 1.30. The business has a fifty day moving average price of $1.37 and a 200 day moving average price of $0.98.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. raised its position in Passage Bio by 9,044.2% in the first quarter. Federated Hermes Inc. now owns 9,510 shares of the company’s stock valued at $29,000 after purchasing an additional 9,406 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Passage Bio during the 2nd quarter valued at about $27,000. Prelude Capital Management LLC acquired a new position in Passage Bio during the 1st quarter worth approximately $45,000. PDT Partners LLC boosted its holdings in Passage Bio by 87.4% in the 1st quarter. PDT Partners LLC now owns 24,513 shares of the company’s stock worth $76,000 after acquiring an additional 11,434 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Passage Bio by 77.3% in the 1st quarter. Bank of America Corp DE now owns 33,168 shares of the company’s stock worth $32,000 after acquiring an additional 14,462 shares during the period. Hedge funds and other 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.