Acadian Asset Management LLC Buys 1,253,353 Shares of Gossamer Bio, Inc. $GOSS

Key Points

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Acadian Asset Management LLC raised its stake in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 24.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,358,113 shares of the company's stock after buying an additional 1,253,353 shares during the period. Acadian Asset Management LLC owned about 2.80% of Gossamer Bio worth $6,991,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOSS. Graham Capital Management L.P. acquired a new stake in shares of Gossamer Bio during the 4th quarter valued at $32,000. Virtu Financial LLC acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $38,000. Invesco Ltd. acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $48,000. Velan Capital Investment Management LP acquired a new stake in shares of Gossamer Bio in the 4th quarter valued at $68,000. Finally, Bank of America Corp DE lifted its stake in shares of Gossamer Bio by 107.2% in the 4th quarter. Bank of America Corp DE now owns 84,788 shares of the company's stock valued at $77,000 after purchasing an additional 43,866 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company's stock.

Gossamer Bio Stock Performance

Gossamer Bio stock traded up $0.11 on Thursday, reaching $3.10. 1,582,286 shares of the stock were exchanged, compared to its average volume of 2,242,778. The stock has a market cap of $703.74 million, a PE ratio of -4.99 and a beta of 1.95. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 6.70. Gossamer Bio, Inc. has a twelve month low of $0.66 and a twelve month high of $3.60. The firm has a fifty day moving average price of $2.19 and a two-hundred day moving average price of $1.50.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. The firm had revenue of $11.49 million during the quarter, compared to analyst estimates of $4.12 million. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. Sell-side analysts anticipate that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GOSS shares. Wedbush lifted their price objective on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Gossamer Bio from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Scotiabank started coverage on shares of Gossamer Bio in a research note on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $8.50.

About Gossamer Bio

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing seralutinib for the treatment of pulmonary arterial hypertension (PAH) in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colony-stimulatin factor 1 receptor and c-KIT inhibitor, which is in Phase 3 clinical trial for the treatment of PAH.