Gossamer Bio (NASDAQ:GOSS) Posts Earnings Results

Gossamer Bio (NASDAQ:GOSS) released its quarterly earnings results on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), FiscalAI reports. The company had revenue of $13.80 million during the quarter, compared to analysts’ expectations of $7.53 million. Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%.

Gossamer Bio Price Performance

Shares of Gossamer Bio stock traded down $0.02 on Wednesday, reaching $0.45. 509,034 shares of the company were exchanged, compared to its average volume of 15,624,130. The stock’s 50 day moving average price is $1.77 and its 200-day moving average price is $2.49. Gossamer Bio has a 1-year low of $0.33 and a 1-year high of $3.87. The company has a market cap of $103.46 million, a P/E ratio of -0.65 and a beta of 2.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Gossamer Bio by 139.7% in the 4th quarter. State Street Corp now owns 9,310,969 shares of the company’s stock valued at $28,864,000 after purchasing an additional 5,427,302 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Gossamer Bio by 19,123.7% in the 4th quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock valued at $11,922,000 after purchasing an additional 3,825,879 shares during the period. Millennium Management LLC grew its stake in Gossamer Bio by 629.3% during the 3rd 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 last quarter. Bank of America Corp DE increased its position in Gossamer Bio by 4,196.2% during the third quarter. Bank of America Corp DE now owns 2,881,904 shares of the company’s stock worth $7,579,000 after buying an additional 2,814,824 shares during the period. Finally, UBS Group AG increased its position in Gossamer Bio by 785.7% during the third quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock worth $7,285,000 after buying an additional 2,457,304 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.

Wall Street Analysts Forecast Growth

GOSS has been the subject of a number of research reports. Royal Bank Of Canada raised Gossamer Bio to an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a report on Thursday, January 22nd. Oppenheimer dropped their target price on Gossamer Bio from $12.00 to $3.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Wedbush reiterated a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Gossamer Bio in a research note on Tuesday, February 24th. Finally, HC Wainwright reduced their price target on shares of Gossamer Bio from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.43.

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.