Gossamer Bio (NASDAQ:GOSS) Shares Up 9.1%

Gossamer Bio, Inc. (NASDAQ:GOSSGet Rating) shot up 9.1% during mid-day trading on Friday . The stock traded as high as $6.63 and last traded at $6.62. 3,745 shares changed hands during trading, a decline of 99% from the average session volume of 541,111 shares. The stock had previously closed at $6.07.

Several research firms have issued reports on GOSS. Raymond James dropped their price target on shares of Gossamer Bio from $19.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 26th. Piper Sandler dropped their price target on shares of Gossamer Bio from $26.00 to $15.00 in a research report on Monday, April 25th. Barclays dropped their price target on shares of Gossamer Bio from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 26th. UBS Group initiated coverage on shares of Gossamer Bio in a report on Wednesday, April 6th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, HC Wainwright decreased their price objective on shares of Gossamer Bio from $25.00 to $20.00 in a report on Tuesday, April 26th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gossamer Bio has a consensus rating of “Buy” and a consensus price target of $17.50.

The company has a quick ratio of 8.12, a current ratio of 8.12 and a debt-to-equity ratio of 7.44. The company’s 50 day moving average is $7.73 and its 200 day moving average is $9.18. The firm has a market capitalization of $513.62 million, a price-to-earnings ratio of -2.12 and a beta of 1.11.

Gossamer Bio (NASDAQ:GOSSGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.01. On average, analysts expect that Gossamer Bio, Inc. will post -2.73 EPS for the current year.

In other news, CEO Faheem Hasnain sold 19,035 shares of the stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $8.91, for a total value of $169,601.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Waage Christian sold 10,722 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $8.91, for a total transaction of $95,533.02. The disclosure for this sale can be found here. Insiders have sold 31,019 shares of company stock worth $274,221 over the last quarter. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of GOSS. FMR LLC bought a new position in shares of Gossamer Bio in the first quarter worth about $26,576,000. Woodline Partners LP bought a new position in Gossamer Bio in the 4th quarter valued at approximately $11,059,000. Kynam Capital Management LP raised its holdings in Gossamer Bio by 80.2% in the 1st quarter. Kynam Capital Management LP now owns 1,832,704 shares of the company’s stock valued at $15,908,000 after buying an additional 815,847 shares during the last quarter. Norges Bank bought a new position in Gossamer Bio in the 4th quarter valued at approximately $8,197,000. Finally, State Street Corp raised its holdings in Gossamer Bio by 23.6% in the 4th quarter. State Street Corp now owns 3,292,091 shares of the company’s stock valued at $37,234,000 after buying an additional 629,325 shares during the last quarter. 76.90% of the stock is owned by hedge funds and other institutional investors.

Gossamer Bio Company Profile (NASDAQ:GOSS)

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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