Gossamer Bio (NASDAQ:GOSS) Downgraded to “Hold” at Zacks Investment Research

Gossamer Bio (NASDAQ:GOSSGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Gossamer Bio Inc. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutics in the areas of immunology, inflammation and oncology. The company’s product pipeline includes GB001, GB002, GB004, GB1275, Autoimmune program and Oncology program which are in clinical stage. Gossamer Bio Inc. is based in San Diego, California. “

Other equities research analysts have also issued reports about the company. UBS Group assumed coverage on Gossamer Bio in a research report on Wednesday, April 6th. They issued a “buy” rating and a $19.00 price objective on the stock. Barclays cut their price objective on Gossamer Bio from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 26th. Raymond James cut their price objective on Gossamer Bio from $19.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Gossamer Bio in a research report on Monday, May 9th. Finally, HC Wainwright cut their price objective on Gossamer Bio from $25.00 to $20.00 in a research report on Tuesday, April 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Gossamer Bio currently has a consensus rating of “Buy” and an average target price of $16.53.

Gossamer Bio stock traded down $0.01 during trading hours on Wednesday, reaching $7.45. The company had a trading volume of 491,294 shares, compared to its average volume of 779,361. The company has a debt-to-equity ratio of 7.44, a current ratio of 8.12 and a quick ratio of 8.12. The company has a 50-day moving average price of $8.35 and a 200 day moving average price of $9.69. The firm has a market cap of $574.52 million, a price-to-earnings ratio of -2.40 and a beta of 1.12. Gossamer Bio has a 12-month low of $6.28 and a 12-month high of $14.30.

Gossamer Bio (NASDAQ:GOSSGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.01. As a group, research analysts expect that Gossamer Bio will post -2.73 earnings per share for the current year.

In other Gossamer Bio news, EVP Waage Christian sold 10,722 shares of the business’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $8.91, for a total value of $95,533.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura Carter sold 5,002 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $8.28, for a total value of $41,416.56. The disclosure for this sale can be found here. Insiders have sold 42,300 shares of company stock worth $367,628 over the last 90 days. 23.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Gossamer Bio by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,654,742 shares of the company’s stock worth $49,083,000 after acquiring an additional 67,283 shares in the last quarter. BlackRock Inc. raised its stake in shares of Gossamer Bio by 1.2% in the fourth quarter. BlackRock Inc. now owns 5,429,686 shares of the company’s stock worth $61,409,000 after purchasing an additional 66,816 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Gossamer Bio by 19.0% in the first quarter. Federated Hermes Inc. now owns 3,526,478 shares of the company’s stock worth $30,610,000 after purchasing an additional 564,236 shares during the last quarter. State Street Corp raised its stake in shares of Gossamer Bio by 0.5% in the first quarter. State Street Corp now owns 3,307,930 shares of the company’s stock worth $28,713,000 after purchasing an additional 15,839 shares during the last quarter. Finally, Emerald Advisers LLC raised its stake in shares of Gossamer Bio by 10.1% in the first quarter. Emerald Advisers LLC now owns 1,949,577 shares of the company’s stock worth $16,922,000 after purchasing an additional 178,658 shares during the last quarter. 76.90% of the stock is currently owned by institutional investors and hedge funds.

About Gossamer Bio (Get Rating)

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. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis.

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