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Passage Bio Inc. (NASDAQ: PASG): On Track To A Higher Share Price

Passage Bio Inc. (NASDAQ:PASG) shares, rose in value on Friday, 05/13/22, with the stock price up by 5.17% to the previous day’s close as strong demand from buyers drove the stock to $1.83.

Actively observing the price movement in the last trading, the stock closed the session at $1.74, falling within a range of $1.74 and $1.86. Referring to stock’s 52-week performance, its high was $17.28, and the low was $1.57. On the whole, PASG has fluctuated by -41.16% over the past month.

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With the market capitalization of Passage Bio Inc. currently standing at about $90.44 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 01, 2022 – Mar 07, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.88, which is expected to increase to -$0.76 for fiscal year -$3.41 and then to about -$3.3 by fiscal year 2022. Data indicates that the EPS growth is expected to be -17.20% in 2022, while the next year’s EPS growth is forecast to be 3.20%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PASG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PASG currently trading nearly -17.42% and -33.12% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.85, while the 7-day volatility ratio is showing 14.26% which for the 30-day chart, stands at 10.29%. Furthermore, Passage Bio Inc. (PASG)’s average true range (ATR) is 0.22. The company’s stock has been forecasted to trade at an average price of $18.14 over the course of the next 52 weeks, with a low of $4.00 and a high of $34.00. Based on these price targets, the low is -118.58% off current price, whereas the price has to move -1757.92% to reach the yearly target high. Additionally, analysts’ median price of $16.00 is likely to be welcomed by investors because it represents a decrease of -774.32% from the current levels.

Data on historical trading for Passage Bio Inc. (NASDAQ:PASG) indicates that the trading volumes over the past 10 days have averaged 0.78 million and over the past 3 months, they’ve averaged 409.45K. According to company’s latest data on outstanding shares, there are 54.13 million shares outstanding.

Nearly 0.70% of Passage Bio Inc.’s shares belong to company insiders and institutional investors own 80.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.64 million shares as on Jan 30, 2022, resulting in a short ratio of 5.51. According to the data, the short interest in Passage Bio Inc. (PASG) stood at 3.04% of shares outstanding as of Jan 30, 2022; the number of short shares registered in Dec 30, 2021 reached 1.68 million. The stock has fallen by -71.18% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PASG stock heading into the next quarter.

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