Gossamer Bio (NASDAQ:GOSS) Trading Up 5.1% – Here’s What Happened

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) rose 5.1% during mid-day trading on Monday . The stock traded as high as $3.75 and last traded at $3.7850. Approximately 1,433,361 shares changed hands during trading, a decline of 42% from the average daily volume of 2,484,768 shares. The stock had previously closed at $3.60.

Analyst Ratings Changes

Several research firms recently commented on GOSS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Gossamer Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Gossamer Bio presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Gossamer Bio Stock Performance

The stock has a fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $2.28. The stock has a market cap of $829.78 million, a PE ratio of -5.20 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $6.32 million. Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%. On average, equities analysts predict that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Gossamer Bio by 5.2% during the third quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock valued at $31,586,000 after buying an additional 598,981 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Gossamer Bio by 12.4% during the second quarter. Acadian Asset Management LLC now owns 7,146,022 shares of the company’s stock valued at $8,786,000 after purchasing an additional 787,909 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Gossamer Bio by 100.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock valued at $5,604,000 after purchasing an additional 2,282,632 shares during the period. Corient Private Wealth LLC lifted its stake in Gossamer Bio by 8.9% during the second quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company’s stock valued at $4,543,000 after buying an additional 302,200 shares in the last quarter. Finally, Millennium Management LLC increased its position 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 in the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Gossamer Bio Company Profile

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.