Gossamer Bio (NASDAQ:GOSS) Now Covered by Analysts at Chardan Capital

Key Points

• Chardan Capital initiated coverage of Gossamer Bio with a “buy” rating. Analyst sentiment remains mixed overall, with five Buy, three Hold, and two Sell ratings and an average consensus rating of “Hold.”
• Gossamer Bio shares traded at $9.72, near their 52-week low of $8.99, with a market capitalization of approximately $59.4 million. The stock’s average analyst price target was reported at $240.
• Institutional investors increased their involvement, and hedge funds and other institutions currently own approximately 81.23% of the stock. The clinical-stage biotechnology company’s lead candidate is seralutinib, an inhaled drug aimed at pulmonary vascular remodeling.

Chardan Capital started coverage on shares of Gossamer Bio (NASDAQ:GOSS - Get Free Report) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set a "buy" rating on the stock.

Several other brokerages have also recently issued reports on GOSS. Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th. Weiss Ratings raised Gossamer Bio from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Leerink Partners raised Gossamer Bio from a "market perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Tuesday, July 28th. Finally, HC Wainwright restated a "buy" rating on shares of Gossamer Bio in a research note on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $240.00.

Gossamer Bio Stock Performance

Shares of NASDAQ:GOSS traded up $0.44 during trading on Tuesday, hitting $9.72. The company's stock had a trading volume of 85,996 shares, compared to its average volume of 240,217. The business has a 50 day moving average price of $12.34 and a two-hundred day moving average price of $17.38. The company has a market capitalization of $59.40 million, a PE ratio of -0.17 and a beta of 2.21. Gossamer Bio has a fifty-two week low of $8.99 and a fifty-two week high of $309.60.

Institutional Investors Weigh In On Gossamer Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP boosted its position in Gossamer Bio by 41.3% during the second quarter. Corient Private Wealth LP now owns 5,632,698 shares of the company's stock worth $927,000 after acquiring an additional 1,647,315 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Gossamer Bio by 1,289.4% during the second quarter. Hsbc Holdings PLC now owns 1,583,118 shares of the company's stock valued at $267,000 after purchasing an additional 1,469,175 shares during the period. Bank of America Corp DE purchased a new stake in Gossamer Bio during the 2nd quarter worth $65,000. Hhlr Advisors LTD. purchased a new position in Gossamer Bio in the second quarter valued at about $819,000. Finally, ARCH Venture Management LLC bought a new stake in shares of Gossamer Bio in the second quarter worth $1,326,004. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with disorders involving the immune system, inflammation and fibrosis. The company is headquartered in San Diego, California, and primarily operates through the development of its proprietary drug candidates and strategic collaborations.

Gossamer's lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways associated with pulmonary vascular remodeling.