Alyeska Investment Group L.P. Sells 4,644,780 Shares of Gossamer Bio, Inc. $GOSS

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Gossamer Bio by 52.7%, selling 4,644,780 shares and now owning 4,163,734 shares valued at approximately $4.58 million.
• Despite the stake reduction, various institutional investors have been purchasing new stakes in Gossamer Bio, with a total of institutional ownership at 81.23%.
• Gossamer Bio has received mixed analyst ratings, with consensus indicating a "Buy" rating and an average target price of $8.50, despite recent downgrades from some analysts.

Alyeska Investment Group L.P. trimmed its position in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 52.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,163,734 shares of the company's stock after selling 4,644,780 shares during the period. Alyeska Investment Group L.P. owned about 1.83% of Gossamer Bio worth $4,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Graham Capital Management L.P. purchased a new position in Gossamer Bio in the fourth quarter valued at about $32,000. Virtu Financial LLC acquired a new stake in shares of Gossamer Bio during the 1st quarter valued at about $38,000. Fullcircle Wealth LLC bought a new stake in shares of Gossamer Bio in the 4th quarter valued at approximately $43,000. Invesco Ltd. bought a new stake in shares of Gossamer Bio in the 1st quarter valued at approximately $48,000. Finally, Velan Capital Investment Management LP acquired a new position in Gossamer Bio in the fourth quarter worth approximately $68,000. Institutional investors and hedge funds own 81.23% of the company's stock.

Gossamer Bio Stock Performance

GOSS traded up $0.35 during trading on Thursday, hitting $3.46. The stock had a trading volume of 7,298,689 shares, compared to its average volume of 3,783,297. The firm has a market cap of $786.73 million, a PE ratio of -5.58 and a beta of 1.95. Gossamer Bio, Inc. has a 12 month low of $0.66 and a 12 month high of $3.50. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 6.70. The company has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $1.45.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released 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. The company had revenue of $11.49 million during the quarter, compared to analysts' expectations of $4.12 million. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. Analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Gossamer Bio in a research note on Thursday. Wedbush raised their price target on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Scotiabank initiated coverage on shares of Gossamer Bio in a report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $8.50.

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.