Investors Purchase Large Volume of Gossamer Bio Call Options (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS) was the recipient of some unusual options trading on Wednesday. Investors acquired 2,867 call options on the stock. This represents an increase of approximately 145% compared to the average daily volume of 1,169 call options.

Hedge Funds Weigh In On Gossamer Bio

Several large investors have recently bought and sold shares of the stock. Drive Wealth Management LLC grew 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 worth $31,000 after purchasing an additional 8,797 shares during the last quarter. Legal & General Group Plc bought a new position in Gossamer Bio in the 2nd quarter worth about $26,000. Banco BTG Pactual S.A. bought a new position in Gossamer Bio in the 2nd quarter worth about $27,000. Lazard Asset Management LLC grew its position in Gossamer Bio by 53.9% in the 2nd quarter. Lazard Asset Management LLC now owns 67,362 shares of the company’s stock worth $82,000 after purchasing an additional 23,601 shares during the last quarter. Finally, Choreo LLC lifted its stake in shares of Gossamer Bio by 58.2% in the 2nd quarter. Choreo LLC now owns 76,111 shares of the company’s stock worth $94,000 after acquiring an additional 28,000 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOSS. The Goldman Sachs Group lifted their price objective on Gossamer Bio from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Wedbush upped their price target on Gossamer Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Wall Street Zen lowered Gossamer Bio from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Scotiabank started coverage on Gossamer Bio in a research report on Monday, July 14th. They set a “sector outperform” rating and a $11.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Gossamer Bio currently has a consensus rating of “Buy” and a consensus target price of $8.50.

Gossamer Bio Stock Performance

Shares of GOSS stock opened at $3.11 on Thursday. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 6.70. The firm has a fifty day moving average price of $1.99 and a 200 day moving average price of $1.43. The company has a market cap of $707.15 million, a P/E ratio of -5.02 and a beta of 1.95. Gossamer Bio has a 12 month low of $0.66 and a 12 month high of $3.40.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. The company had revenue of $11.49 million during the quarter, compared to the consensus estimate of $4.12 million. Sell-side analysts predict that Gossamer Bio will post -0.28 earnings per share for the current fiscal year.

Gossamer Bio Company Profile

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing seralutinib for the treatment of pulmonary arterial hypertension (PAH) in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colony-stimulatin factor 1 receptor and c-KIT inhibitor, which is in Phase 3 clinical trial for the treatment of PAH.