Gossamer Bio Inc (NASDAQ:GOSS) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 4,450,000 shares, a decline of 9.0% from the September 30th total of 4,890,000 shares. Approximately 10.4% of the company’s shares are short sold. Based on an average daily volume of 548,600 shares, the short-interest ratio is presently 8.1 days.
Several equities research analysts recently commented on GOSS shares. Berenberg Bank started coverage on Gossamer Bio in a report on Wednesday, October 30th. They set a “buy” rating and a $31.00 target price on the stock. ValuEngine downgraded Gossamer Bio from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded Gossamer Bio from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Finally, Evercore ISI set a $30.00 target price on Gossamer Bio and gave the company a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Gossamer Bio presently has an average rating of “Buy” and a consensus price target of $28.50.
In other news, major shareholder Fund V. Gp L.P. Omega sold 21,404 shares of Gossamer Bio stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $21.56, for a total value of $461,470.24. Also, Director Faheem Hasnain bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $16.80 per share, for a total transaction of $168,000.00. Over the last ninety days, insiders bought 40,821 shares of company stock worth $275,497 and sold 450,000 shares worth $9,668,719. Insiders own 23.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GOSS. BNP Paribas Arbitrage SA acquired a new position in Gossamer Bio during the 2nd quarter valued at approximately $42,000. Bank of Montreal Can boosted its position in Gossamer Bio by 144.7% during the 2nd quarter. Bank of Montreal Can now owns 2,839 shares of the company’s stock valued at $63,000 after purchasing an additional 1,679 shares during the period. JPMorgan Chase & Co. boosted its position in Gossamer Bio by 87.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,995 shares of the company’s stock valued at $126,000 after purchasing an additional 2,798 shares during the period. Royal Bank of Canada boosted its position in Gossamer Bio by 39.3% during the 2nd quarter. Royal Bank of Canada now owns 6,967 shares of the company’s stock valued at $154,000 after purchasing an additional 1,967 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Gossamer Bio during the 3rd quarter valued at approximately $239,000. Institutional investors and hedge funds own 54.72% of the company’s stock.
Shares of NASDAQ:GOSS traded up $0.69 during mid-day trading on Friday, hitting $22.54. 292,200 shares of the company traded hands, compared to its average volume of 553,916. Gossamer Bio has a 52-week low of $14.49 and a 52-week high of $25.06. The firm has a market cap of $1.44 billion and a P/E ratio of -1.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 17.80 and a current ratio of 13.64. The firm’s 50 day simple moving average is $18.38 and its 200 day simple moving average is $19.51.
Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.10). Equities research analysts expect that Gossamer Bio will post -3.26 EPS for the current fiscal year.
Gossamer Bio Company Profile
Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. It is developing GB001, an oral antagonist of prostaglandin D2 receptor 2 that is in Phase IIb clinical trial for the treatment of moderate-to-severe eosinophilic asthma, as well as that has completed Phase I clinical trial for chronic rhinosinusitis with nasal polyps, without nasal polyps, and chronic spontaneous urticarial; GB002, a platelet-derived growth factor, receptor kinase inhibitor that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension; GB004, an oral small molecule that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases; and GB1275, an oral small molecule for the treatment of oncology indications.
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