Octagon Capital Advisors LP Reduces Stock Position in Gossamer Bio, Inc. $GOSS

Octagon Capital Advisors LP cut its stake in Gossamer Bio, Inc. (NASDAQ:GOSS) by 44.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,750,000 shares of the company’s stock after selling 6,165,371 shares during the quarter. Gossamer Bio accounts for about 0.3% of Octagon Capital Advisors LP’s investment portfolio, making the stock its 29th largest holding. Octagon Capital Advisors LP’s holdings in Gossamer Bio were worth $2,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of Gossamer Bio by 84.8% during the first quarter. Renaissance Technologies LLC now owns 1,217,868 shares of the company’s stock valued at $400,000 after purchasing an additional 558,980 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Gossamer Bio in the first quarter worth approximately $38,000. SG Americas Securities LLC grew its position in Gossamer Bio by 73.4% in the 1st quarter. SG Americas Securities LLC now owns 128,568 shares of the company’s stock worth $42,000 after purchasing an additional 54,439 shares during the period. Rockefeller Capital Management L.P. raised its stake in Gossamer Bio by 496.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 60,866 shares of the company’s stock valued at $189,000 after buying an additional 50,666 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Gossamer Bio by 19,123.7% during the 4th quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock valued at $11,922,000 after buying an additional 3,825,879 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOSS. HC Wainwright lowered their price target on Gossamer Bio from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Weiss Ratings lowered Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.20.

Gossamer Bio Price Performance

Shares of GOSS stock opened at $0.14 on Monday. Gossamer Bio, Inc. has a 1 year low of $0.11 and a 1 year high of $3.87. The firm has a fifty day moving average price of $0.18 and a 200-day moving average price of $0.81. The company has a market cap of $31.92 million, a price-to-earnings ratio of -0.17 and a beta of 2.04.

Gossamer Bio (NASDAQ:GOSS) last announced its earnings results on Friday, May 15th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $16.95 million during the quarter, compared to the consensus estimate of $4.67 million. Equities research analysts expect that Gossamer Bio, Inc. will post -0.37 EPS for the current year.

Gossamer Bio 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.