Gossamer Bio (NASDAQ:GOSS) Cut to “Hold” at The Goldman Sachs Group

Gossamer Bio (NASDAQ:GOSS) was downgraded by analysts at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on GOSS. Wall Street Zen downgraded shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Wedbush reissued a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Gossamer Bio in a research report on Tuesday. Leerink Partners cut Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research report on Thursday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Gossamer Bio in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Gossamer Bio presently has an average rating of “Hold” and an average price target of $6.67.

Gossamer Bio Stock Performance

NASDAQ GOSS opened at $0.38 on Tuesday. The firm has a market capitalization of $87.98 million, a price-to-earnings ratio of -0.55 and a beta of 1.93. Gossamer Bio has a one year low of $0.33 and a one year high of $3.87. The company’s 50 day moving average price is $2.54 and its 200 day moving average price is $2.65.

Institutional Trading of Gossamer Bio

Several large investors have recently modified their holdings of GOSS. Vanguard Group Inc. increased its position in shares of Gossamer Bio by 5.2% during the third quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock worth $31,586,000 after acquiring an additional 598,981 shares during the last quarter. State Street Corp grew its stake in Gossamer Bio by 139.7% during 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 in the last quarter. Acadian Asset Management LLC grew its stake in Gossamer Bio by 12.4% during the 2nd 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 in the last quarter. Geode Capital Management LLC increased its holdings in Gossamer Bio by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 4,872,714 shares of the company’s stock worth $15,109,000 after purchasing an additional 183,183 shares during the last quarter. Finally, Corient Private Wealth LLC raised 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 in the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

About Gossamer Bio

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.