ADAR1 Capital Management LLC Lowers Position in Gossamer Bio, Inc. $GOSS

Key Points

• ADAR1 Capital Management LLC significantly reduced its stake in Gossamer Bio, selling over 8 million shares and leaving it with only 227,228 shares, representing a 97.3% decrease.
• Despite the sell-off by ADAR1, several hedge funds have increased their holdings in Gossamer Bio during the same period, indicating ongoing interest among institutional investors.
• Wall Street analysts have mixed views on Gossamer Bio, with price targets ranging from $5.00 to $11.00, reflecting expectations for growth despite the company's recent earnings report showing a loss.

ADAR1 Capital Management LLC trimmed its position in Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 97.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,228 shares of the company's stock after selling 8,088,283 shares during the quarter. ADAR1 Capital Management LLC owned about 0.10% of Gossamer Bio worth $250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Octagon Capital Advisors LP lifted its holdings in Gossamer Bio by 99.7% during the 4th quarter. Octagon Capital Advisors LP now owns 18,350,000 shares of the company's stock worth $16,599,000 after buying an additional 9,162,117 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of Gossamer Bio by 52.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 8,808,514 shares of the company's stock valued at $7,968,000 after purchasing an additional 3,041,058 shares during the last quarter. Millennium Management LLC increased its position in shares of Gossamer Bio by 14.6% in the 4th quarter. Millennium Management LLC now owns 3,586,067 shares of the company's stock valued at $3,244,000 after purchasing an additional 457,179 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Gossamer Bio by 44.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,157,500 shares of the company's stock valued at $1,047,000 after purchasing an additional 357,500 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Gossamer Bio in the 1st quarter valued at approximately $387,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOSS. Wedbush increased their price objective on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Scotiabank started coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 target price on the stock. Wall Street Zen downgraded shares of Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, The Goldman Sachs Group increased their target price on shares of Gossamer Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $8.50.

Gossamer Bio Stock Performance

Gossamer Bio stock traded up $0.43 during midday trading on Friday, hitting $2.94. 7,644,399 shares of the company's stock were exchanged, compared to its average volume of 2,960,860. Gossamer Bio, Inc. has a 12-month low of $0.66 and a 12-month high of $2.98. The company has a debt-to-equity ratio of 6.70, a quick ratio of 4.40 and a current ratio of 4.40. The stock has a market cap of $668.50 million, a price-to-earnings ratio of -4.74 and a beta of 1.95. The firm's 50 day simple moving average is $1.90 and its 200 day simple moving average is $1.40.

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

Gossamer Bio Company 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.