Goldman Sachs Group Inc. Buys 825,047 Shares of Gossamer Bio, Inc. $GOSS

Key Points

• Goldman Sachs significantly increased its stake in Gossamer Bio, buying 825,047 shares, representing a 720.2% increase and bringing its total ownership to approximately 0.41% valued at $1,034,000.
• Gossamer Bio, a clinical-stage biopharmaceutical company focusing on treatments for pulmonary arterial hypertension, experienced a revenue of $11.49 million last quarter, surpassing estimates by over $7 million.
• The stock has received several analyst ratings, with a consensus price target of $8.50 and five analysts rating it as a "Buy."

Goldman Sachs Group Inc. increased its stake in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 720.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 939,603 shares of the company's stock after acquiring an additional 825,047 shares during the quarter. Goldman Sachs Group Inc. owned about 0.41% of Gossamer Bio worth $1,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of Gossamer Bio by 24.6% during the first quarter. Acadian Asset Management LLC now owns 6,358,113 shares of the company's stock worth $6,991,000 after acquiring an additional 1,253,353 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Gossamer Bio by 41.3% during the fourth quarter. Two Sigma Investments LP now owns 891,279 shares of the company's stock worth $806,000 after acquiring an additional 260,318 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Gossamer Bio during the first quarter worth $387,000. Two Sigma Advisers LP boosted its position in shares of Gossamer Bio by 44.7% during the fourth quarter. Two Sigma Advisers LP now owns 1,157,500 shares of the company's stock worth $1,047,000 after acquiring an additional 357,500 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Gossamer Bio by 499.0% during the fourth quarter. Mackenzie Financial Corp now owns 299,815 shares of the company's stock worth $271,000 after acquiring an additional 249,765 shares during the last quarter. Institutional investors own 81.23% of the company's stock.

Gossamer Bio Trading Up 3.6%

NASDAQ GOSS opened at $3.16 on Tuesday. 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 company has a market capitalization of $718.52 million, a price-to-earnings ratio of -5.10 and a beta of 1.95. The company's 50-day simple moving average is $2.29 and its two-hundred day simple moving average is $1.54. Gossamer Bio, Inc. has a one year low of $0.66 and a one year high of $3.60.

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

Analysts Set New Price Targets

GOSS has been the subject of several research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Scotiabank initiated coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price objective for the company. Wall Street Zen lowered shares of Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, 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. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $8.50.

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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