Gossamer Bio (NASDAQ:GOSS) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Gossamer Bio (NASDAQ:GOSS) from a hold rating to a sell rating in a research report released on Friday morning.

Several other research firms have also recently weighed in on GOSS. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Gossamer Bio in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Gossamer Bio Price Performance

Shares of NASDAQ:GOSS opened at $2.70 on Friday. The stock’s 50-day moving average is $3.10 and its 200 day moving average is $2.59. The company has a market cap of $624.94 million, a PE ratio of -3.91 and a beta of 1.92. Gossamer Bio has a 1 year low of $0.76 and a 1 year high of $3.87.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Gossamer Bio by 629.3% in the third quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock worth $9,519,000 after acquiring an additional 3,123,081 shares during the last quarter. Bank of America Corp DE boosted its stake in Gossamer Bio by 4,196.2% in the 3rd quarter. Bank of America Corp DE now owns 2,881,904 shares of the company’s stock worth $7,579,000 after purchasing an additional 2,814,824 shares in the last quarter. UBS Group AG increased its stake in Gossamer Bio by 785.7% during the 3rd quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock valued at $7,285,000 after purchasing an additional 2,457,304 shares in the last quarter. Geode Capital Management LLC increased its stake in Gossamer Bio by 100.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock valued at $5,604,000 after purchasing an additional 2,282,632 shares in the last quarter. Finally, MB Generational Wealth LLC purchased a new position in Gossamer Bio in the third quarter worth about $3,721,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

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.