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Passage Bio
(NASDAQ:PASG)
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Rating:46Neutral
Price Target:
$4.50
▼(-0.44% Downside)
Action:Reiterated
Date:10/13/26
The score is primarily constrained by weak financial performance: no revenue, persistent losses/cash burn, and a significantly eroded equity base. Technicals are mixed but not strong, with negative MACD and the stock below longer-term averages. Valuation is difficult to support due to negative earnings and no dividend, while the merger/financing update is a moderate positive that partially offsets the elevated financial risk.
Positive Factors
Improving Loss Trajectory
The substantial reduction in net losses indicates that operating discipline and spending controls are improving relative to earlier periods. Although profitability remains distant, a lower loss trajectory can extend financial runway and reduce the scale of future capital needs if sustained.
Negative Factors
Pre-Revenue Model
The absence of revenue means Passage Bio has no operating sales base to fund research, development, or corporate expenses. Until a candidate reaches commercialization or another durable revenue source emerges, financial performance will remain tied to clinical progress and external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Loss Trajectory
The substantial reduction in net losses indicates that operating discipline and spending controls are improving relative to earlier periods. Although profitability remains distant, a lower loss trajectory can extend financial runway and reduce the scale of future capital needs if sustained.
Read all positive factors
Passage Bio (PASG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.55M
Dividend YieldN/A
Average Volume (3M)26.89K
Price to Earnings (P/E)―
Beta (1Y)2.22
Revenue GrowthN/A
EPS Growth38.14%
CountryUS
Employees24
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-11.33
Shares Outstanding3,217,810
10 Day Avg. Volume18,968
30 Day Avg. Volume26,893
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-0.74
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit65.86
Enterprise Value/Ebitda0.26
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-9.78
Revenue Forecast (FY)N/A
Passage Bio Business Overview & Revenue Model
Company Description
Passage Bio, Inc. is a biopharmaceutical company dedicated to pioneering genetic therapies for conditions affecting the central nervous system. Their advanced pipeline includes PBGM01, designed to treat infantile GM1 gangliosidosis by utilizing a ...
Passage Bio Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -129.00K | -728.00K | 0.00 | -3.72M | 0.00 | 0.00 |
| EBITDA | -32.96M | -44.79M | -62.09M | -98.34M | -131.72M | -176.19M |
| Net Income | -36.11M | -45.52M | -64.77M | -102.06M | -136.13M | -185.39M |
Balance Sheet | ||||||
| Total Assets | 25.18M | 62.28M | 102.41M | 150.54M | 243.55M | 355.08M |
| Cash, Cash Equivalents and Short-Term Investments | 24.16M | 46.30M | 76.76M | 114.29M | 189.61M | 315.77M |
| Total Debt | 0.00 | 24.01M | 25.48M | 26.29M | 27.11M | 0.00 |
| Total Liabilities | 20.72M | 43.53M | 41.15M | 39.26M | 42.18M | 36.42M |
| Stockholders Equity | 4.46M | 18.75M | 61.26M | 111.28M | 201.37M | 318.66M |
Cash Flow | ||||||
| Free Cash Flow | -33.50M | -31.51M | -47.99M | -78.41M | -123.48M | -152.52M |
| Operating Cash Flow | -33.50M | -31.51M | -47.96M | -78.26M | -118.21M | -126.88M |
| Investing Cash Flow | 20.00K | 40.22M | 54.95M | 65.24M | 25.20M | -45.81M |
| Financing Cash Flow | 9.00K | 23.00K | 8.87M | 135.00K | -1.35M | 166.66M |
Passage Bio Technical Analysis
Negative
4.52
Price Trends
4.41
Negative
4.70
Negative
6.67
Negative
Market Momentum
-0.29
Positive
36.27
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PASG, the sentiment is Negative. The current price of 4.52 is above the 20-day moving average (MA) of 3.98, above the 50-day MA of 4.41, and below the 200-day MA of 6.67, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 36.27 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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% | |
46 Neutral | $11.55M | -0.32 | -218.59% | ― | ― | 38.14% | |
42 Neutral | $9.73M | -0.12 | -1270.11% | ― | ― | 69.34% | |
42 Neutral | $8.33M | -1.13 | -70.81% | ― | ― | 56.99% | |
42 Neutral | $42.39M | -0.55 | -685.96% | ― | ― | 11.96% | |
42 Neutral | $71.00M | -3.89 | -50.17% | ― | ― | 70.27% |
* Healthcare Sector Average
PASG
Passage Bio
3.51
-3.92
-52.76%
TPST
Tempest Therapeutics
0.52
-9.80
-94.94%
CMMB
Chemomab Therapeutics
1.08
-1.83
-62.89%
ANVS
Annovis Bio
0.99
-1.03
-50.94%
CGTX
Cognition Therapeutics
0.70
-1.00
-58.82%
Passage Bio Corporate Events
M&A TransactionsPrivate Placements and Financing
Passage Bio Amends Remix Merger, Private Financing Terms
Positive
Sep 3, 2026
On September 2, 2026, Passage Bio, Inc. and Remix Therapeutics, Inc. amended and restated their June 24, 2026 merger agreement, restructuring the deal into a two-step merger in which Remix will first merge into a Passage Bio subsidiary and then in...
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.