Gossamer Bio (NASDAQ:GOSS) Trading Down 5.7% – Here’s What Happened

Gossamer Bio, Inc. (NASDAQ:GOSS)’s stock price fell 5.7% during mid-day trading on Friday . The company traded as low as $2.67 and last traded at $2.7050. 1,306,327 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,635,486 shares. The stock had previously closed at $2.87.

Analysts Set New Price Targets

GOSS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a report on Thursday. Finally, Wall Street Zen upgraded Gossamer Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gossamer Bio presently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Gossamer Bio Trading Down 5.4%

The firm has a market capitalization of $628.41 million, a price-to-earnings ratio of -3.93 and a beta of 1.92. The firm has a 50 day moving average price of $3.10 and a two-hundred day moving average price of $2.58.

Gossamer Bio (NASDAQ:GOSS) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $6.32 million. Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%. As a group, research analysts forecast that Gossamer Bio, Inc. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in Gossamer Bio in the second quarter valued at approximately $26,000. Ciovacco Capital Management LLC acquired a new stake in Gossamer Bio during the 3rd quarter valued at $27,000. Banco BTG Pactual S.A. purchased a new stake in Gossamer Bio during the 2nd quarter worth $27,000. Drive Wealth Management LLC boosted its position in Gossamer Bio by 52.7% in the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock valued at $31,000 after buying an additional 8,797 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Gossamer Bio during the third quarter valued at about $36,000. Institutional investors and hedge funds 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.