Monaco Asset Management SAM Sells 522,507 Shares of 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 stake in shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 9.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,849,134 shares of the company's stock after selling 522,507 shares during the quarter. Gossamer Bio makes up 1.1% of Monaco Asset Management SAM's portfolio, making the stock its 11th largest holding. Monaco Asset Management SAM owned about 2.13% of Gossamer Bio worth $5,334,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOSS. Octagon Capital Advisors LP lifted its holdings in shares of Gossamer Bio by 99.7% during the 4th quarter. Octagon Capital Advisors LP now owns 18,350,000 shares of the company's stock valued at $16,599,000 after purchasing 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% during 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 during the last quarter. Silverarc Capital Management LLC increased its position in shares of Gossamer Bio by 9.3% during 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 during the last quarter. Millennium Management LLC raised its stake in 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 acquiring an additional 457,179 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 valued at $2,037,000 after acquiring an additional 38,084 shares during the period. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Gossamer Bio Price Performance

Shares of NASDAQ GOSS traded down $0.04 during midday trading on Friday, hitting $2.00. 2,685,966 shares of the company's stock were exchanged, compared to its average volume of 2,775,451. Gossamer Bio, Inc. has a 12-month low of $0.66 and a 12-month high of $2.18. The company has a current ratio of 5.71, a quick ratio of 5.71 and a debt-to-equity ratio of 6.70. The company has a market cap of $454.60 million, a price-to-earnings ratio of -8.70 and a beta of 1.95. The business's fifty day moving average price is $1.41 and its two-hundred day moving average price is $1.20.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. Gossamer Bio had a negative net margin of 41.12% and a negative return on equity of 128.98%. The firm had revenue of $9.89 million during the quarter, compared to analyst estimates of $3.95 million. As a group, research analysts forecast that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on GOSS. The Goldman Sachs Group increased their target price on Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and issued a $4.00 price objective on shares of Gossamer Bio in a research note on Friday, May 16th. Finally, Scotiabank started coverage on Gossamer Bio in a research note on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 price objective on the stock.

About Gossamer Bio

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.