Gossamer Bio’s (GOSS) Outperform Rating Reiterated at Wedbush

Gossamer Bio (NASDAQ:GOSS)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They presently have a $4.00 target price on the stock. Wedbush’s price target indicates a potential upside of 424.80% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 target price on shares of Gossamer Bio in a report on Wednesday, March 27th. The Goldman Sachs Group reduced their price objective on Gossamer Bio from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Gossamer Bio in a research note on Monday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.65.

Gossamer Bio Stock Performance

Shares of Gossamer Bio stock traded up $0.03 on Wednesday, reaching $0.76. 577,931 shares of the stock were exchanged, compared to its average volume of 1,325,525. The company has a quick ratio of 5.94, a current ratio of 5.94 and a debt-to-equity ratio of 3.14. Gossamer Bio has a twelve month low of $0.45 and a twelve month high of $1.88. The business has a 50 day moving average price of $1.09 and a two-hundred day moving average price of $0.94. The firm has a market capitalization of $172.42 million, a price-to-earnings ratio of -0.56 and a beta of 1.84.

Gossamer Bio (NASDAQ:GOSS) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Analysts anticipate that Gossamer Bio will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Faheem Hasnain sold 23,172 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total transaction of $26,879.52. Following the completion of the transaction, the chief executive officer now directly owns 120,293 shares in the company, valued at $139,539.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 33,620 shares of company stock valued at $39,682. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Gossamer Bio

A number of large investors have recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new position in shares of Gossamer Bio during the first quarter worth $29,000. SG Americas Securities LLC purchased a new position in Gossamer Bio in the first quarter valued at approximately $34,000. Financial Advocates Investment Management acquired a new position in shares of Gossamer Bio in the 3rd quarter valued at $61,000. Bank of New York Mellon Corp raised its stake in Gossamer Bio by 178.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 91,246 shares of the company’s stock worth $76,000 after acquiring an additional 58,428 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Gossamer Bio by 9,916.9% in the third quarter. Citigroup Inc. now owns 196,732 shares of the company’s stock valued at $164,000 after acquiring an additional 194,768 shares during the last quarter. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

About Gossamer Bio

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing seralutinib for the treatment of pulmonary arterial hypertension (PAH) in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colony-stimulatin factor 1 receptor and c-KIT inhibitor, which is in Phase 3 clinical trial for the treatment of PAH.