Passage Bio Inc. [NASDAQ: PASG] loss -6.57% or -2.37 points to close at $33.70 with a heavy trading volume of 214068 shares. It opened the trading session at $36.50, the shares rose to $38.23 and dropped to $33.51, the range by which the price of stock traded the whole day. However, it is still -316.56% lower than its most recent low trading price.
If we look at the average trading volume of 166.39K shares, PASG reached to a volume of 214068 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Passage Bio Inc. [PASG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PASG shares is $30.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PASG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Chardan Capital Markets have made an estimate for Passage Bio Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 25, 2020. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on March 24, 2020, representing the official price target for Passage Bio Inc. stock. Previously, the target price had yet another raise to $27, while Goldman analysts kept a Buy rating on PASG stock.
The Average True Range (ATR) for Passage Bio Inc. is set at 2.67
Trading performance analysis for PASG stock
Passage Bio Inc. [PASG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.81.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PASG stock in for the last two-week period is set at 70.25, with the RSI for the last a single of trading hit 70.11, and the three-weeks RSI is set at 68.03 for Passage Bio Inc. [PASG]. The present Moving Average for the last 50 days of trading for this stock 22.99, while it was recorded at 33.93 for the last single week of trading.
Passage Bio Inc. [PASG]: A deeper dive into fundamental analysis
Reflecting on the efficiency of the workforce at the company, Passage Bio Inc. [PASG] managed to generate an average of -$2,281,700 per employee.
An analysis of insider ownership at Passage Bio Inc. [PASG]
There are presently around $1,051 million, or 56.12% of PASG stock, in the hands of institutional investors. The top three institutional holders of PASG stocks are: ORBIMED ADVISORS LLC with ownership of 6,962,899, which is approximately New of the company’s market cap and around 19.27% of the total institutional ownership; FRAZIER MANAGEMENT LLC, holding 5,009,219 shares of the stock with an approximate value of $180.68 million in PASG stocks shares; and FMR LLC, currently with $113.05 million in PASG stock with ownership of nearly New of the company’s market capitalization.
Positions in Passage Bio Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 44 institutional holders increased their position in Passage Bio Inc. [NASDAQ:PASG] by around 29,131,968 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 29,131,968 shares, according to the latest SEC report filing. PASG stock had 44 new institutional investments in for a total of 29,131,968 shares, while 0 institutional investors sold positions of 0 shares during the same period.