Gossamer Bio Target of Unusually High Options Trading (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 32,685 put options on the company. This is an increase of approximately 428% compared to the average daily volume of 6,189 put options.

Wall Street Analyst Weigh In

GOSS has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Gossamer Bio in a research report on Thursday, January 22nd. Wall Street Zen cut Gossamer Bio from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research report on Thursday, January 22nd. Finally, Barclays initiated coverage on Gossamer Bio in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $9.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.60.

Institutional Trading of Gossamer Bio

A number of hedge funds and other institutional investors have recently modified their holdings of GOSS. Legal & General Group Plc acquired a new position in shares of Gossamer Bio in the second quarter worth approximately $26,000. Ciovacco Capital Management LLC bought a new stake in shares of Gossamer Bio in the 3rd quarter valued at $27,000. Banco BTG Pactual S.A. bought a new stake in shares of Gossamer Bio in the 2nd quarter valued at $27,000. Drive Wealth Management LLC increased its position in shares of Gossamer Bio by 52.7% during the second quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock worth $31,000 after buying an additional 8,797 shares during the period. Finally, MMA Asset Management LLC bought a new position in Gossamer Bio during the fourth quarter worth $31,000. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Stock Down 1.2%

Shares of GOSS stock opened at $2.43 on Friday. The business has a fifty day simple moving average of $2.98 and a 200 day simple moving average of $2.65. The company has a market cap of $562.44 million, a P/E ratio of -3.52 and a beta of 1.93. Gossamer Bio has a twelve month low of $0.76 and a twelve month high of $3.87.

Gossamer Bio (NASDAQ:GOSS) last issued its 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). 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 for the quarter, compared to analyst estimates of $6.32 million. As a group, equities research analysts anticipate that Gossamer Bio will post -0.28 earnings per share for the current fiscal year.

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.