Stock Traders Purchase High Volume of Gossamer Bio Put Options (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS) was the target of some unusual options trading activity on Thursday. Stock traders acquired 48,840 put options on the stock. This represents an increase of approximately 414% compared to the typical volume of 9,503 put options.

Gossamer Bio Stock Performance

GOSS stock opened at $2.11 on Friday. The firm’s fifty day moving average is $2.76 and its 200 day moving average is $2.68. The firm has a market cap of $488.38 million, a P/E ratio of -3.06 and a beta of 1.93. Gossamer Bio has a 52 week low of $0.76 and a 52 week high of $3.87.

Wall Street Analyst Weigh In

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

Institutional Trading of Gossamer Bio

Several institutional investors and hedge funds have recently modified their holdings of GOSS. Legal & General Group Plc purchased a new stake in Gossamer Bio in the second quarter valued at about $26,000. Ciovacco Capital Management LLC acquired a new position in Gossamer Bio in the 3rd quarter valued at about $27,000. Banco BTG Pactual S.A. acquired a new position in shares of Gossamer Bio in the 2nd quarter valued at $27,000. Drive Wealth Management LLC boosted its stake in 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 acquired a new position in Gossamer Bio in the 4th quarter valued at about $31,000. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.