New York Life Investment Management LLC Boosts Stake in Passage Bio, Inc. (NASDAQ:PASG)

Posted by on Jun 6th, 2023

New York Life Investment Management LLC grew its stake in Passage Bio, Inc. (NASDAQ:PASG – Get Rating) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,978 shares of the company’s stock after acquiring an additional 20,617 shares during the quarter. New York Life Investment Management LLC owned about 0.34% of Passage Bio worth $253,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PASG. Prudential Financial Inc. purchased a new position in Passage Bio in the second quarter valued at about $27,000. Federated Hermes Inc. raised its stake in shares of Passage Bio by 9,044.2% during the 1st quarter. Federated Hermes Inc. now owns 9,510 shares of the company’s stock worth $29,000 after acquiring an additional 9,406 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in Passage Bio during the first quarter valued at approximately $45,000. Annandale Capital LLC acquired a new stake in Passage Bio in the third quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC grew 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 worth $52,000 after purchasing an additional 19,706 shares during the last quarter. 76.99% of the stock is owned by institutional investors.

Passage Bio Stock Performance

Shares of Passage Bio stock opened at $0.99 on Tuesday. Passage Bio, Inc. has a 12-month low of $0.95 and a 12-month high of $2.89. The firm’s 50 day simple moving average is $1.02 and its two-hundred day simple moving average is $1.22.

Passage Bio (NASDAQ:PASG – Get Rating) last issued its earnings results on Monday, March 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). During the same period in the prior year, the firm posted ($0.93) earnings per share. Sell-side analysts anticipate that Passage Bio, Inc. will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an “outperform” rating on shares of Passage Bio in a report on Monday, March 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Passage Bio presently has a consensus rating of “Buy” and an average price target of $8.80.

About Passage Bio

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Passage Bio, Inc, a genetic medicines company, develops transformative therapies for central nervous system diseases. It develops PBGM01, which utilizes a proprietary, AAVhu68 capsid to deliver to the brain and peripheral tissues a functional GLB1 gene encoding lysosomal acid beta-galactosidase for infantile GM1; PBFT02, which utilizes an AAV1 capsid to deliver to the brain a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD-GRN; and PBKR03, which utilizes a proprietary, AAVhu68 capsid to deliver to the brain and peripheral tissues a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease.

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Institutional Ownership by Quarter for Passage Bio (NASDAQ:PASG)

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