Oppenheimer Cuts Gossamer Bio (NASDAQ:GOSS) Price Target to $3.00

Gossamer Bio (NASDAQ:GOSS) had its target price cut by Oppenheimer from $12.00 to $3.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on GOSS. Wedbush restated a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Gossamer Bio in a report on Tuesday, February 24th. Wall Street Zen cut shares of Gossamer Bio from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Gossamer Bio in a research report on Thursday, January 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group cut shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.43.

Gossamer Bio Stock Down 4.0%

Shares of NASDAQ:GOSS opened at $0.50 on Thursday. Gossamer Bio has a twelve month low of $0.33 and a twelve month high of $3.87. The stock’s 50 day moving average is $2.12 and its 200-day moving average is $2.58. The firm has a market capitalization of $115.89 million, a price-to-earnings ratio of -0.73 and a beta of 2.08.

Institutional Investors Weigh In On Gossamer Bio

Large investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Gossamer Bio by 139.7% in the 4th quarter. State Street Corp now owns 9,310,969 shares of the company’s stock worth $28,864,000 after buying an additional 5,427,302 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Gossamer Bio by 19,123.7% in the 4th quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock worth $11,922,000 after buying an additional 3,825,879 shares during the period. Millennium Management LLC boosted its holdings 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 period. 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 during the period. Finally, UBS Group AG grew its stake in Gossamer Bio by 785.7% during the third quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock valued at $7,285,000 after acquiring an additional 2,457,304 shares in the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

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.