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

Key Points

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Acadian Asset Management LLC raised its position in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 24.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,358,113 shares of the company's stock after purchasing 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of GOSS. Graham Capital Management L.P. bought a new stake in Gossamer Bio during the 4th quarter valued at $32,000. Virtu Financial LLC bought a new stake in Gossamer Bio during the 1st quarter valued at $38,000. Invesco Ltd. bought a new stake in Gossamer Bio during the 1st quarter valued at $48,000. Velan Capital Investment Management LP bought a new stake in Gossamer Bio during the 4th quarter valued at $68,000. Finally, Bank of America Corp DE raised its position in Gossamer Bio by 107.2% during 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 in the last quarter. 81.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOSS. The Goldman Sachs Group lifted their target price on Gossamer Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Gossamer Bio in a report on Thursday. Wedbush lifted their price target on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Gossamer Bio from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Scotiabank initiated coverage on Gossamer Bio in a report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $8.50.

Gossamer Bio Stock Performance

Shares of NASDAQ:GOSS opened at $3.46 on Friday. Gossamer Bio, Inc. has a 12-month low of $0.66 and a 12-month high of $3.60. The business's fifty day simple moving average is $2.08 and its 200-day simple moving average is $1.46. The company has a market capitalization of $786.73 million, a PE ratio of -5.58 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 (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%.The business had revenue of $11.49 million for the quarter, compared to the consensus estimate of $4.12 million. As a group, equities research analysts predict that Gossamer Bio, Inc. will post -0.28 earnings per share for the current fiscal year.

Gossamer Bio Profile

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.

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