Gossamer Bio (NASDAQ:GOSS) Trading Down 6.5% – What’s Next?

Gossamer Bio, Inc. (NASDAQ:GOSS) was down 6.5% on Tuesday . The stock traded as low as $3.55 and last traded at $3.5450. Approximately 3,451,341 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 2,519,599 shares. The stock had previously closed at $3.79.

Analyst Upgrades and Downgrades

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

Gossamer Bio Stock Performance

The business’s fifty day moving average price is $2.78 and its two-hundred day moving average price is $2.27. The firm has a market capitalization of $825.14 million, a P/E ratio of -5.17 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last announced its earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%. The firm had revenue of $13.29 million during the quarter, compared to analyst estimates of $6.32 million. Sell-side analysts predict that Gossamer Bio, Inc. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Gossamer Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOSS. Ciovacco Capital Management LLC purchased a new stake in shares of Gossamer Bio during the third quarter worth about $27,000. Brighton Jones LLC purchased a new stake in Gossamer Bio during the 3rd quarter worth approximately $36,000. Brevan Howard Capital Management LP acquired a new position in Gossamer Bio during the 3rd quarter valued at approximately $37,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Gossamer Bio in the third quarter worth $41,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Gossamer Bio by 136.7% during the third quarter. Jones Financial Companies Lllp now owns 17,360 shares of the company’s stock worth $47,000 after buying an additional 10,027 shares during the period. 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.