Charles Schwab Investment Management Inc. Lowers Stake in Gossamer Bio, Inc. $GOSS

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Gossamer Bio by 8.3%, now holding approximately 0.50% of the company worth $1.25 million after selling 103,032 shares in the first quarter.
• Analyst ratings for Gossamer Bio show a mix of opinions, with Wall Street Zen downgrading the stock to "sell" while Goldman Sachs raised the price target to $8.00, reflecting a consensus rating of "Buy" and a price target of $8.50.
• Gossamer Bio reported revenue of $11.49 million in its latest quarterly earnings, significantly surpassing analyst expectations of $4.12 million, yet it continues to struggle with a negative net margin of 344.81%.

Charles Schwab Investment Management Inc. reduced its stake in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,138,947 shares of the company's stock after selling 103,032 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.50% of Gossamer Bio worth $1,253,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Graham Capital Management L.P. purchased a new stake in shares of Gossamer Bio during the fourth quarter valued at $32,000. Fullcircle Wealth LLC purchased a new stake in shares of Gossamer Bio during the fourth quarter valued at $43,000. Velan Capital Investment Management LP purchased a new stake in shares of Gossamer Bio during the fourth quarter valued at $68,000. Bank of America Corp DE boosted its stake in shares of Gossamer Bio by 107.2% during the fourth 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 period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Gossamer Bio during the fourth quarter valued at $90,000. 81.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOSS has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. The Goldman Sachs Group upped their price objective on shares of Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Scotiabank assumed 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, Wedbush upped their price objective on shares of Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $8.50.

Gossamer Bio Stock Performance

GOSS stock opened at $2.47 on Tuesday. The firm has a market cap of $561.63 million, a price-to-earnings ratio of -3.98 and a beta of 1.95. The firm has a 50-day simple moving average of $1.79 and a two-hundred day simple moving average of $1.37. Gossamer Bio, Inc. has a one year low of $0.66 and a one year high of $2.64. The company has a debt-to-equity ratio of 6.70, a quick ratio of 4.40 and a current ratio of 4.40.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. The business 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%. On average, equities analysts forecast that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal 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.

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