Gossamer Bio (NASDAQ:GOSS) Stock Price Up 9.2% – Time to Buy?
by Michael Walen · The Markets DailyGossamer Bio, Inc. (NASDAQ:GOSS – Get Free Report) shares were up 9.2% during mid-day trading on Monday . The company traded as high as $3.74 and last traded at $3.7550. Approximately 1,739,241 shares were traded during trading, a decline of 33% from the average daily volume of 2,586,747 shares. The stock had previously closed at $3.44.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Gossamer Bio from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Gossamer Bio in a report on Thursday, September 11th. Five equities 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 stock has an average rating of “Moderate Buy” and a consensus target price of $8.50.
Read Our Latest Report on GOSS
Gossamer Bio Stock Up 9.6%
The business has a 50-day moving average price of $2.86 and a 200-day moving average price of $2.33. The firm has a market capitalization of $872.59 million, a P/E ratio of -5.46 and a beta of 1.92.
Gossamer Bio (NASDAQ:GOSS – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $13.29 million during the quarter, compared to analyst estimates of $6.32 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%. As a group, sell-side analysts forecast that Gossamer Bio, Inc. will post -0.28 EPS for the current year.
Institutional Trading of Gossamer Bio
Large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Gossamer Bio by 107.2% during the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock worth $77,000 after acquiring an additional 43,866 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $48,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Gossamer Bio in the 1st quarter worth about $387,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Gossamer Bio during the 1st quarter worth about $213,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Gossamer Bio by 720.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after purchasing an additional 825,047 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors.
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.