Passage Bio (PASG)
NASDAQ:PASG
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Passage Bio
(NASDAQ:PASG)
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Rating:42Neutral
Price Target:
$5.50
▼(-52.87% Downside)
Action:ReiteratedDate:04/29/26
The score is held down primarily by weak financial quality (no revenue, ongoing cash burn, and sharply reduced equity with debt exceeding equity) and bearish technicals (price well below key moving averages with negative MACD). Valuation is difficult to assess due to negative earnings and no dividend support, while corporate events are mixed but skew negative given the scale of the restructuring.
Positive Factors
Clinical efficacy signals
Interim PBFT02 data show imaging and biomarker improvements plus durable CSF progranulin rises with generally tolerable safety. Those durable biological and imaging signals support a plausible disease‑modifying profile, strengthening the long‑term viability of the FTD program and partner interest.
Negative Factors
Deteriorating balance sheet
Equity fell sharply to a small capital base while debt stayed elevated, leaving debt greater than equity. This structural leverage deterioration reduces financial flexibility, raises refinancing and covenant risk, and heightens the likelihood of dilutive financings or forced strategic transactions under stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical efficacy signals
Interim PBFT02 data show imaging and biomarker improvements plus durable CSF progranulin rises with generally tolerable safety. Those durable biological and imaging signals support a plausible disease‑modifying profile, strengthening the long‑term viability of the FTD program and partner interest.
Read all positive factors
Passage Bio (PASG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.32M
Dividend YieldN/A
Average Volume (3M)41.18K
Price to Earnings (P/E)―
Beta (1Y)2.33
Revenue GrowthN/A
EPS Growth32.80%
CountryUS
Employees60
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.09
Shares Outstanding3,207,810
10 Day Avg. Volume55,130
30 Day Avg. Volume41,182
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)2.00
Price to Sales (P/S)0.00
P/FCF Ratio-1.19
Enterprise Value/Market Cap-0.28
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit13.61
Enterprise Value/Ebitda0.13
Forecast
1Y Price Target
$11.75Price Target Upside0.69% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-10.35
Revenue Forecast (FY)N/A
Passage Bio Business Overview & Revenue Model
Company Description
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 GLB...
How the Company Makes Money
Passage Bio has historically generated limited revenue because it does not have approved products on the market. Its funding and any recognized revenue have primarily come from (1) equity financings (e.g., public and/or private offerings) used to ...
Passage Bio Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
30
Negative
Cash Flow
26
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -728.00K | 0.00 | -3.72M | 0.00 | 0.00 |
| EBITDA | -42.42M | -62.09M | -98.34M | -131.72M | -176.19M |
| Net Income | -45.52M | -64.77M | -102.06M | -136.13M | -185.39M |
Balance Sheet | |||||
| Total Assets | 62.28M | 102.41M | 150.54M | 243.55M | 355.08M |
| Cash, Cash Equivalents and Short-Term Investments | 46.30M | 76.76M | 114.29M | 189.61M | 315.77M |
| Total Debt | 24.01M | 25.48M | 26.29M | 27.11M | 0.00 |
| Total Liabilities | 43.53M | 41.15M | 39.26M | 42.18M | 36.42M |
| Stockholders Equity | 18.75M | 61.26M | 111.28M | 201.37M | 318.66M |
Cash Flow | |||||
| Free Cash Flow | -31.51M | -47.99M | -78.41M | -123.48M | -152.52M |
| Operating Cash Flow | -31.51M | -47.96M | -78.26M | -118.21M | -126.88M |
| Investing Cash Flow | 40.22M | 54.95M | 65.24M | 25.20M | -45.81M |
| Financing Cash Flow | 23.00K | 8.87M | 135.00K | -1.35M | 166.66M |
Passage Bio Technical Analysis
Positive
11.67
Price Trends
8.64
Positive
10.12
Positive
8.71
Positive
Market Momentum
0.89
Negative
65.83
Neutral
94.12
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PASG, the sentiment is Positive. The current price of 11.67 is above the 20-day moving average (MA) of 8.79, above the 50-day MA of 8.64, and above the 200-day MA of 8.71, indicating a bullish trend. The MACD of 0.89 indicates Negative momentum. The RSI at 65.83 is Neutral, neither overbought nor oversold. The STOCH value of 94.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PASG.
Passage Bio Risk Analysis
Passage Bio disclosed 79 risk factors in its most recent earnings report. Passage Bio reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Passage Bio Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $114.37M | -8.98 | -104.27% | ― | ― | 60.12% | |
46 Neutral | $24.67M | -0.74 | -309.60% | ― | ― | 65.02% | |
44 Neutral | $65.27M | -2.46 | -159.43% | ― | ― | 27.86% | |
43 Neutral | $11.08M | -1.16 | -89.92% | ― | ― | 58.63% | |
42 Neutral | $18.32M | -0.82 | -135.04% | ― | ― | 32.80% |
* Healthcare Sector Average
PASG
Passage Bio
5.78
-0.74
-11.35%
TPST
Tempest Therapeutics
1.69
-5.42
-76.23%
CMMB
Chemomab Therapeutics
1.48
-3.93
-72.69%
ANVS
Annovis Bio
1.85
0.36
24.16%
CGTX
Cognition Therapeutics
1.28
0.85
197.67%
Passage Bio Corporate Events
Business Operations and Strategy
Passage Bio Announces Major Workforce Reduction and Restructuring
Negative
Apr 28, 2026
On April 28, 2026, Passage Bio, Inc., as part of its ongoing review of strategic alternatives to maximize shareholder value, announced a sweeping restructuring plan that will reduce its workforce by approximately 75% to lower operating expenses. T...
Business Operations and StrategyProduct-Related Announcements
Passage Bio Announces PBFT02 Data and Strategic Review
Neutral
Apr 20, 2026
On April 20, 2026, Passage Bio reported updated interim Phase 1/2 data from its upliFT-D trial showing that PBFT02 reduced whole brain and frontotemporal cortex atrophy and stabilized plasma neurofilament levels in frontotemporal dementia patients...
Business Operations and StrategyFinancial Disclosures
Passage Bio Ends Hopewell Lab Lease, Extends Cash Runway
Neutral
Mar 10, 2026
On March 4, 2026, Passage Bio, Inc. entered into a lease termination agreement with Hopewell Campus Owner LLC, ending a 15-year laboratory lease originally commenced in March 2021 for approximately 62,000 square feet of space. The company agreed t...
Business Operations and StrategyFinancial Disclosures
Passage Bio Reports 2025 Results, Advances FTD Program
Positive
Mar 3, 2026
On March 3, 2026, Passage Bio reported its fourth quarter and full-year 2025 results and detailed progress in its PBFT02 program for frontotemporal dementia. During 2025, the company enrolled the first three FTD-GRN patients into Cohort 3 of its g...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.