Reading PASG? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track PASG free→Reading PASG? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track PASG free→NASDAQHealth CareBiotechnologySnapshot 2026-06-15
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
Recent financial performance is neutral, and management's recent track record has been fairly steady. The company was unprofitable over the past year, so its earnings quality can't be assessed. Risk is high, and the sector backdrop is a headwind, indicating challenges in the current market environment. If PASG cuts guidance on the next call, that could have a meaningful negative impact, while improvements in sector trends could provide some favorable momentum. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 0 valuation methods, at three horizons. Current price $5.50. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Not enough valuation methods to set a 12-month read yet.
Not enough peers to compare yet.
Self-history needs ~20 months of data.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted 0.80x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity, the US dollar.
6 material management or governance events in the past 24 months, led by M&A activity. Historically, Health Care names rated neutral grew net income 58% of the time over the next year (vs 50% for the rest of the cohort, n=842).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-2.48 → $-2.97 (-19.6% / 30d). 1 raised, 0 cut, 3 covering analysts.
0 upgrades, 0 downgrades / 30d. 20% of analysts rate Buy.
0 positive, 1 negative / 30d. See F4 management tile for the event list.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$360.
How much price usually moves either way.
On a bad day, this stock has moved -$1,004.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $7,945.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: If healthcare sector revenue growth speeds up, it may benefit Passage Bio. This could improve investor sentiment.
Confirms:Healthcare sector revenue growth is speeding up again. It is moving toward 10% or more.
Disproves:Healthcare sector revenue growth continues to slow below 5%.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for PASG yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Termination of a Material Definitive Agreement. Gemma - Research, Collaboration and License Agreement Termination On May 21, 2026, Passage Bio, Inc. (the “ Company ”) provided written notice to Gemma Biotherapeutics, Inc. (“ Gemma ”) of termination of the research, collaboration and license agreement, dated July 31, 2024, by and between Gemma and the Company (as amended, the “ Gemma Collaboration Agreement ”), which termination will be effective in accordance with the terms of the Gemma Col…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
No score history yet for this stock.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Biotechnology.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
PASG Passage Bio Inc | — | — | high |
ABBV AbbVie | Above typical Show detailsSector percentile: 85 of 100 | fair | low |
AMGN Amgen | Above typical Show detailsSector percentile: 78 of 100 | full | moderate |
GILD Gilead Sciences | Above typical Show detailsSector percentile: 100 of 100 | fair | moderate |
VRTX Vertex Pharmaceuticals | Above typical Show detailsSector percentile: 80 of 100 | expensive | moderate |
Not investment advice. As of 2026-06-15.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
Implement a workforce reduction plan to decrease operating expenses by reducing the workforce by approximately 75%.
Newly stated in 2026-Q2. The restructuring plan aims to significantly reduce operating expenses by cutting the workforce by 75%. However, financials show persistent operating losses, with operating income at -$8.25M in 2026-Q1. Limited progress is evident as the restructuring is yet to be completed.
“Passage Bio announced a restructuring plan to decrease operating expenses by reducing the workforce by approximately 75%.”
Maintain financial stability by ensuring cash resources last through the first quarter of 2027.
Stated in 2 of last 2 quarters. Despite the expectation of extending the cash runway through 1Q 2027, the company continues to face significant net losses, with a net income of -$7.56M in 2026-Q1. The trajectory shows persistent financial challenges, with no revenue reported.
“Passage Bio expects its cash runway to extend through the first quarter of 2027.”
“Cash runway expected into 1Q 2027.”
Costs Associated with Exit or Disposal Activities. As part of its previously announced efforts to review strategic alternatives to maximize shareholder value, on April 28, 2026, Passage Bio, Inc. (the “ Company ”) announced a restructuring of its workforce (the “ Restructuring Plan ”) to decrease its operating expenses by reducing the workforce by approximately 75%. The implementation of the Restructuring Plan should be substantially complete in the second and third quarters of 2026. Impacted…
Regulation FD Disclosure PBFT02 Program Updates On April 20, 2026, Passage Bio, Inc. (the “ Company ” ) announced updated interim data from the ongoing Phase 1/2 upliFT-D clinical trial evaluating PBFT02 for the treatment of frontotemporal dementia caused by progranulin deficiency (“ FTD-GRN ”) and provided regulatory and corporate updates. Updated interim data from FTD-GRN patients treated with PBFT02 Biomarkers · PBFT02-treated patients with a global Clinical Dementia Rating (“ CDR ”) score…
Results of Operations and Financial Condition. On March 3, 2026, Passage Bio, Inc. (the “ Company ”) issued a press release announcing its financial results for the year ended December 31, 2025. A copy of the press release is attached as Exhibit 99.1 to this report. The information in this Item 2.02, including Exhibit 99.1 to this report, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or otherwise subject…
Termination of a Material Definitive Agreement. On March 4, 2026, Passage Bio, Inc. (the “Company”) and Hopewell Campus Owner LLC (the “Landlord”) entered into a lease termination agreement (the “Termination Agreement”) with respect to that certain lease agreement dated December 15, 2020 between the Company and Landlord (the “Hopewell Lease”). Pursuant to the Termination Agreement, the Company agreed to pay the Landlord a termination fee of approximately $4.8 million as well as accrued rent t…