Recap: Passage Bio Q3 Earnings
Portfolio Pulse from Benzinga Insights
Passage Bio (NASDAQ:PASG) reported Q3 earnings with an EPS of $-0.49, missing estimates by 6.52% compared to the expected $-0.46. Revenue remained unchanged from the same period last year. Previously, the company had beaten EPS estimates by $0.04, which led to a 2.04% share price increase the following day.
November 13, 2023 | 12:15 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Passage Bio reported a Q3 EPS of $-0.49, missing the estimated $-0.46 by 6.52%, with no change in year-over-year revenue.
Missing earnings estimates can negatively impact investor sentiment and stock price in the short term. Although the revenue did not decrease, the lack of growth coupled with the earnings miss may lead to a negative perception of the company's financial health and future prospects. Historical data shows that the company's stock price increased after beating earnings last quarter, which suggests that the market is responsive to their earnings reports.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100