Monaco Asset Management SAM Reduces Stock Position in Gossamer Bio, Inc. (NASDAQ:GOSS)

Key Points

• Monaco Asset Management SAM has reduced its stake in Gossamer Bio, Inc. by 9.7%, now holding 4,849,134 shares, which represents 1.1% of its investment portfolio.
• Analysts have varying views on Gossamer Bio, with Wedbush setting a price target of $4.00 and Goldman Sachs increasing theirs from $7.00 to $8.00 with a "buy" rating.
• Gossamer Bio reported a revenue of $9.89 million for the last quarter, significantly exceeding analyst estimates of $3.95 million, though it continues to experience a negative net margin.

Monaco Asset Management SAM cut its holdings in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,849,134 shares of the company's stock after selling 522,507 shares during the period. Gossamer Bio makes up 1.1% of Monaco Asset Management SAM's holdings, making the stock its 11th biggest holding. Monaco Asset Management SAM owned 2.13% of Gossamer Bio worth $5,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOSS. Octagon Capital Advisors LP grew its position in Gossamer Bio by 99.7% in the 4th quarter. Octagon Capital Advisors LP now owns 18,350,000 shares of the company's stock worth $16,599,000 after purchasing an additional 9,162,117 shares in the last quarter. Alyeska Investment Group L.P. grew its position in 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 worth $7,968,000 after purchasing an additional 3,041,058 shares in the last quarter. Silverarc Capital Management LLC grew its position in Gossamer Bio by 9.3% in the 4th quarter. Silverarc Capital Management LLC now owns 6,171,847 shares of the company's stock worth $5,583,000 after purchasing an additional 526,495 shares in the last quarter. Millennium Management LLC grew its position in Gossamer Bio by 14.6% in the 4th quarter. Millennium Management LLC now owns 3,586,067 shares of the company's stock worth $3,244,000 after purchasing an additional 457,179 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Gossamer Bio by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,250,461 shares of the company's stock worth $2,037,000 after purchasing an additional 38,084 shares in the last quarter. 81.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. 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 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Gossamer Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Wedbush reiterated an "outperform" rating and issued a $4.00 target price on shares of Gossamer Bio in a research note on Friday, May 16th.

Gossamer Bio Stock Performance

GOSS traded down $0.04 during midday trading on Friday, reaching $2.00. The company had a trading volume of 2,685,766 shares, compared to its average volume of 1,866,438. The company has a debt-to-equity ratio of 6.70, a quick ratio of 5.71 and a current ratio of 5.71. The stock has a market cap of $454.60 million, a PE ratio of -8.70 and a beta of 1.86. Gossamer Bio, Inc. has a 12-month low of $0.66 and a 12-month high of $2.18. The business has a 50-day moving average price of $1.41 and a two-hundred day moving average price of $1.20.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. The firm had revenue of $9.89 million for the quarter, compared to analysts' expectations of $3.95 million. Gossamer Bio had a negative net margin of 41.12% and a negative return on equity of 128.98%. On average, sell-side analysts expect 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.