Passage Bio (NASDAQ:PASG) Trading Up 3.1%

Passage Bio, Inc. (NASDAQ:PASG) shares shot up 3.1% during trading on Thursday . The stock traded as high as $1.39 and last traded at $1.35. 185,433 shares traded hands during trading, a decline of 56% from the average session volume of 421,348 shares. The stock had previously closed at $1.31.

Analyst Upgrades and Downgrades

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

Passage Bio Stock Up 3.1 %

The firm has a market cap of $75.06 million, a price-to-earnings ratio of -0.73 and a beta of 1.32. The stock has a fifty day moving average price of $1.26 and a 200-day moving average price of $0.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PASG. Prudential Financial Inc. acquired a new position in Passage Bio during the second quarter worth $27,000. Federated Hermes Inc. increased its stake in Passage Bio by 9,044.2% during the first quarter. Federated Hermes Inc. now owns 9,510 shares of the company’s stock worth $29,000 after acquiring an additional 9,406 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Passage Bio by 77.3% in the first quarter. Bank of America Corp DE now owns 33,168 shares of the company’s stock valued at $32,000 after buying an additional 14,462 shares in the last quarter. Prelude Capital Management LLC purchased a new position in Passage Bio in the first quarter valued at about $45,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Passage Bio by 89.9% in the third quarter. Tower Research Capital LLC TRC now owns 41,625 shares of the company’s stock valued at $52,000 after purchasing an additional 19,706 shares during the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

About Passage Bio

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.