Passage Bio Inc (NASDAQ: PASG) has experienced a rise in its stock price by 12.06 compared to its previous closing price of 1.41. However, the company has seen a gain of 22.48% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-22 that PHILADELPHIA, April 22, 2024 (GLOBE NEWSWIRE) — Passage Bio, Inc. (NASDAQ: PASG), a clinical-stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today announced that William Chou, M.D., president and chief executive officer, and Eden Fucci, senior vice president of technical operations, will participate in a virtual fireside chat at Chardan’s 8th Annual Genetic Medicines and Cell Therapy Manufacturing Summit on Monday, April 29, 2024 at 9:00 a.m. ET.
Is It Worth Investing in Passage Bio Inc (NASDAQ: PASG) Right Now?
Company’s 36-month beta value is 1.29.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for PASG is 41.14M, and currently, short sellers hold a 4.26% ratio of that floaft. The average trading volume of PASG on May 08, 2024 was 344.54K shares.
PASG’s Market Performance
PASG’s stock has seen a 22.48% increase for the week, with a 17.04% rise in the past month and a 54.90% gain in the past quarter. The volatility ratio for the week is 10.05%, and the volatility levels for the past 30 days are at 9.17% for Passage Bio Inc The simple moving average for the past 20 days is 23.82% for PASG’s stock, with a 66.55% simple moving average for the past 200 days.
Analysts’ Opinion of PASG
Goldman, on the other hand, stated in their research note that they expect to see PASG reach a price target of $6, previously predicting the price at $29. The rating they have provided for PASG stocks is “Neutral” according to the report published on January 19th, 2022.
Raymond James gave a rating of “Outperform” to PASG, setting the target price at $29 in the report published on July 01st of the previous year.
PASG Trading at 14.20% from the 50-Day Moving Average
After a stumble in the market that brought PASG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -11.73% of loss for the given period.
Volatility was left at 9.17%, however, over the last 30 days, the volatility rate increased by 10.05%, as shares surge +19.70% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.48% upper at present.
During the last 5 trading sessions, PASG rose by +22.48%, which changed the moving average for the period of 200-days by +59.08% in comparison to the 20-day moving average, which settled at $1.2890. In addition, Passage Bio Inc saw 56.44% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PASG starting from Forman Mark S, who sale 1,638 shares at the price of $0.97 back on Feb 13 ’24. After this action, Forman Mark S now owns 48,631 shares of Passage Bio Inc, valued at $1,589 using the latest closing price.
Borthwick Kathleen, the SVP, INTERIM CFO of Passage Bio Inc, sale 1,470 shares at $0.97 during a trade that took place back on Feb 13 ’24, which means that Borthwick Kathleen is holding 28,466 shares at $1,426 based on the most recent closing price.
Stock Fundamentals for PASG
The total capital return value is set at -0.81. Equity return is now at value -65.29, with -51.80 for asset returns.
Based on Passage Bio Inc (PASG), the company’s capital structure generated 0.19 points at debt to capital in total, while cash flow to debt ratio is standing at -2.98. The debt to equity ratio resting at 0.24. The interest coverage ratio of the stock is 70.15.
Currently, EBITDA for the company is -96.42 million with net debt to EBITDA at -0.04. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.22.
Conclusion
In a nutshell, Passage Bio Inc (PASG) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
