Gossamer Bio (NASDAQ:GOSS) Shares Down 6.8% – Here’s Why

Gossamer Bio, Inc. (NASDAQ:GOSS)’s stock price traded down 6.8% on Tuesday . The stock traded as low as $2.56 and last traded at $2.5550. 2,830,998 shares changed hands during trading, a decline of 20% from the average session volume of 3,552,261 shares. The stock had previously closed at $2.74.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GOSS shares. Weiss Ratings reissued 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 report on Saturday, November 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Gossamer Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Gossamer Bio Stock Performance

The stock has a market cap of $586.74 million, a price-to-earnings ratio of -3.66 and a beta of 1.92. The business has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $2.48.

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

Hedge Funds Weigh In On Gossamer Bio

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of Gossamer Bio by 114.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,369 shares of the company’s stock valued at $511,000 after acquiring an additional 103,922 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Gossamer Bio by 7.8% during the third quarter. Tudor Investment Corp ET AL now owns 50,103 shares of the company’s stock worth $132,000 after acquiring an additional 3,639 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Gossamer Bio during the third quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd bought a new position in Gossamer Bio in the third quarter valued at approximately $57,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in Gossamer Bio by 29.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,408,118 shares of the company’s stock valued at $3,703,000 after purchasing an additional 316,554 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 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.