Chardan Capital Reaffirms Buy Rating for Gossamer Bio (NASDAQ:GOSS)

Key Points

• Chardan Capital reaffirmed its “Buy” rating on Gossamer Bio, while analyst sentiment overall remains mixed: five analysts rate it Buy, three Hold, and two Sell. The consensus rating is “Hold,” with an average price target of $256.
• Gossamer Bio shares opened at $9.60, near the lower end of their 52-week range of $8.29 to $309.60, with a market capitalization of approximately $58.7 million.
• Institutional investors own 81.23% of the company’s stock, and Gossamer’s lead drug candidate, seralutinib, is being developed for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.

Gossamer Bio (NASDAQ:GOSS - Get Free Report)'s stock had its "buy" rating reaffirmed by Chardan Capital in a report released on Monday, Benzinga reports.

Other equities analysts have also issued research reports about the company. HC Wainwright restated a "buy" rating on shares of Gossamer Bio in a research note on Thursday, August 27th. Weiss Ratings upgraded Gossamer Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 9th. Leerink Partners upgraded Gossamer Bio from a "market perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Gossamer Bio presently has an average rating of "Hold" and an average price target of $256.00.

Gossamer Bio Price Performance

Shares of GOSS opened at $9.60 on Monday. The company has a market cap of $58.67 million, a PE ratio of -0.17 and a beta of 2.21. The business has a fifty day moving average of $11.48 and a 200 day moving average of $16.16. Gossamer Bio has a 52-week low of $8.29 and a 52-week high of $309.60.

Hedge Funds Weigh In On Gossamer Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in shares of Gossamer Bio during the 2nd quarter worth approximately $2,467,000. Kalehua Capital Management LLC acquired a new position in shares of Gossamer Bio during the 1st quarter worth approximately $3,363,000. ARCH Venture Management LLC acquired a new position in shares of Gossamer Bio during the 2nd quarter worth approximately $1,326,004. BlackRock Inc. acquired a new position in shares of Gossamer Bio during the 2nd quarter worth approximately $1,262,000. Finally, Corient Private Wealth LP acquired a new position in shares of Gossamer Bio during the 2nd quarter worth approximately $926,000. Hedge funds and other institutional investors own 81.23% of the company's stock.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing medicines for diseases with significant unmet medical needs. The company concentrates primarily on immunology, inflammation and pulmonary disorders.

Its lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways involving platelet-derived growth factor, colony-stimulating factor 1 and stem cell factor receptors. Gossamer is developing seralutinib for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.