Passage Bio (PASG)
NASDAQ:PASG
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Passage Bio
(NASDAQ:PASG)
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Rating:46Neutral
Price Target:
$9.00
▼(-3.12% Downside)
Action:ReiteratedDate:03/03/26
The score is held down primarily by weak financial fundamentals (no revenue, ongoing losses, and a sharply deteriorated equity position vs. debt) and bearish technical signals (price below key moving averages with negative MACD). Positive corporate milestones and an extended stated cash runway provide some support, but valuation is not attractive on earnings metrics given continued losses.
Positive Factors
Clinical Progress - PBFT02
PBFT02 has advanced through multiple cohorts with first FTD-GRN and FTD-C9orf72 patients dosed; upcoming interim safety and biomarker readouts and planned regulatory feedback in 1H 2026 can materially de-risk the program and clarify a registrational path, improving long-term approval prospects.
Negative Factors
Pre-revenue, Ongoing Losses
As a development-stage biotech, Passage Bio remains pre-revenue and fully loss-making despite narrowing deficits. The structural absence of product sales means sustained reliance on external capital to fund operations, delaying any durable path to positive operating cash flow and profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical Progress - PBFT02
PBFT02 has advanced through multiple cohorts with first FTD-GRN and FTD-C9orf72 patients dosed; upcoming interim safety and biomarker readouts and planned regulatory feedback in 1H 2026 can materially de-risk the program and clarify a registrational path, improving long-term approval prospects.
Read all positive factors
Passage Bio (PASG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.80M
Dividend YieldN/A
Average Volume (3M)41.18K
Price to Earnings (P/E)―
Beta (1Y)2.24
Revenue GrowthN/A
EPS Growth38.42%
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 Cap0.25
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-19.91
Enterprise Value/Ebitda-0.19
Forecast
1Y Price Target
$26.50Price Target Upside185.25% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-8.56
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
9.29
Price Trends
8.68
Positive
9.94
Negative
8.57
Positive
Market Momentum
-0.09
Negative
59.80
Neutral
84.96
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 9.29 is above the 20-day moving average (MA) of 7.56, above the 50-day MA of 8.68, and above the 200-day MA of 8.57, indicating a bullish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 59.80 is Neutral, neither overbought nor oversold. The STOCH value of 84.96 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% | |
50 Neutral | $78.65M | -8.98 | -109.73% | ― | ― | 50.39% | |
46 Neutral | $29.80M | -0.82 | -87.18% | ― | ― | 38.42% | |
46 Neutral | $22.38M | -0.45 | -310.89% | ― | ― | 49.43% | |
45 Neutral | $65.22M | -2.46 | -159.43% | ― | ― | 62.84% | |
43 Neutral | $12.30M | -1.71 | -89.92% | ― | ― | 53.19% |
* Healthcare Sector Average
PASG
Passage Bio
9.29
1.11
13.57%
TPST
Tempest Therapeutics
1.56
-5.59
-78.18%
CMMB
Chemomab Therapeutics
1.71
-2.21
-56.38%
ANVS
Annovis Bio
2.30
1.01
78.29%
CGTX
Cognition Therapeutics
0.88
0.55
166.67%
Passage Bio Corporate Events
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...
Business Operations and StrategyProduct-Related Announcements
Passage Bio Highlights PBFT02 Progress and Extended Cash Runway
Positive
Jan 12, 2026
On January 12, 2026, Passage Bio updated its corporate presentation to highlight progress on PBFT02, its lead gene therapy candidate for frontotemporal dementia caused by GRN mutations (FTD-GRN), and to outline its broader strategy in neurodegener...
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.