Gossamer Bio (NASDAQ:GOSS) Reaches New 52-Week Low – Here’s Why

Gossamer Bio, Inc. (NASDAQ:GOSS) shares reached a new 52-week low on Friday . The stock traded as low as $8.0301 and last traded at $11.2540, with a volume of 190 shares traded. The stock had previously closed at $11.3920.

Analyst Upgrades and Downgrades

GOSS has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating on shares of Gossamer Bio in a research report on Thursday, August 27th. Weiss Ratings raised shares of Gossamer Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, Leerink Partners raised shares of Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $1.00 price objective on the stock in a research note on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.20.

Gossamer Bio Stock Down 4.2%

The company has a market cap of $2.56 billion, a P/E ratio of -15.44 and a beta of 2.00. The firm has a fifty day moving average price of $0.17 and a 200 day moving average price of $0.27.

Institutional Investors Weigh In On Gossamer Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Soltis Investment Advisors LLC acquired a new position in shares of Gossamer Bio during the fourth quarter worth approximately $31,000. Beacon Pointe Advisors LLC bought a new stake in shares of Gossamer Bio during the fourth quarter valued at approximately $34,000. Ieq Capital LLC acquired a new stake in shares of Gossamer Bio in the fourth quarter valued at approximately $35,000. Janney Montgomery Scott LLC acquired a new stake in shares of Gossamer Bio in the fourth quarter valued at approximately $39,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Gossamer Bio in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

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.