Gossamer Bio (NASDAQ:GOSS) Shares Down 3.6% – Should You Sell?

Gossamer Bio, Inc. (NASDAQ:GOSS) shares dropped 3.6% during trading on Tuesday . The stock traded as low as $3.09 and last traded at $3.0950. Approximately 1,331,118 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 2,620,162 shares. The stock had previously closed at $3.21.

Wall Street Analyst Weigh In

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

Gossamer Bio Stock Down 4.2%

The company has a market capitalization of $711.74 million, a PE ratio of -4.47 and a beta of 1.92. The business has a 50 day simple moving average of $2.99 and a 200 day simple moving average of $2.42.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Gossamer Bio by 629.3% during the third quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock worth $9,519,000 after buying an additional 3,123,081 shares during the period. Bank of America Corp DE raised 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 acquiring an additional 2,814,824 shares during the last quarter. UBS Group AG lifted its position in Gossamer Bio by 785.7% during the 3rd quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock worth $7,285,000 after acquiring an additional 2,457,304 shares during the period. Geode Capital Management LLC grew its stake in Gossamer Bio by 100.4% during 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 last quarter. Finally, MB Generational Wealth LLC acquired a new position in shares of Gossamer Bio in the third quarter valued at about $3,721,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.

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.