Gossamer Bio (NASDAQ:GOSS) Shares Down 5.8% – Time to Sell?

Gossamer Bio, Inc. (NASDAQ:GOSS) shares dropped 5.8% on Monday . The company traded as low as $0.4143 and last traded at $0.42. Approximately 4,482,835 shares were traded during trading, a decline of 54% from the average daily volume of 9,706,117 shares. The stock had previously closed at $0.4460.

Wall Street Analyst Weigh In

GOSS has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research note on Thursday, January 22nd. HC Wainwright reduced their target price on Gossamer Bio from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Wedbush reissued a “neutral” rating and issued a $1.00 target price (down from $6.00) on shares of Gossamer Bio in a research report on Tuesday, February 24th. Leerink Partners cut Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Gossamer Bio in a research report on Monday, March 23rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Gossamer Bio presently has an average rating of “Hold” and a consensus target price of $5.43.

Gossamer Bio Stock Performance

The stock’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $2.04. The stock has a market capitalization of $91.51 million, a PE ratio of -0.52 and a beta of 2.16.

Gossamer Bio (NASDAQ:GOSS) last released its earnings results on Tuesday, March 17th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $13.80 million for the quarter, compared to analysts’ expectations of $7.53 million. On average, analysts predict that Gossamer Bio, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gossamer Bio

A number of hedge funds have recently bought and sold shares of the company. MB Generational Wealth LLC purchased a new position in Gossamer Bio in the third quarter worth about $3,721,000. CWM LLC grew its holdings in shares of Gossamer Bio by 35.7% during the fourth quarter. CWM LLC now owns 33,957 shares of the company’s stock valued at $105,000 after buying an additional 8,940 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Gossamer Bio during the fourth quarter valued at approximately $148,000. JPMorgan Chase & Co. increased its position in shares of Gossamer Bio by 114.9% during the third quarter. JPMorgan Chase & Co. now owns 194,369 shares of the company’s stock valued at $511,000 after acquiring an additional 103,922 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Gossamer Bio in the 4th quarter worth approximately $2,024,000. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Company Profile

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.