Platinum Investment Management Ltd. Cuts Position in Gossamer Bio, Inc. $GOSS

Key Points

• Platinum Investment Management Ltd. reduced its stake in Gossamer Bio by 20.1% during Q2, owning 1,383,863 shares worth approximately $1.7 million after selling 347,492 shares.
• Gossamer Bio's shares opened at $2.49, with a market cap of $566.18 million, experiencing a 5.3% decline in trading recently.
• Despite a recent loss, Gossamer Bio reported a revenue of $11.49 million for the quarter, significantly exceeding the consensus estimate of $4.12 million.

Platinum Investment Management Ltd. decreased its position in Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) by 20.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,383,863 shares of the company's stock after selling 347,492 shares during the quarter. Platinum Investment Management Ltd. owned 0.61% of Gossamer Bio worth $1,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Gossamer Bio in the first quarter valued at approximately $38,000. Invesco Ltd. purchased a new stake in shares of Gossamer Bio during the first quarter worth $48,000. Bank of America Corp DE increased its position 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 worth $77,000 after acquiring an additional 43,866 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Gossamer Bio during the first quarter worth $213,000. Finally, Mackenzie Financial Corp increased 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 period. Hedge funds and other institutional investors own 81.23% of the company's stock.

Gossamer Bio Trading Down 5.3%

Shares of GOSS stock opened at $2.49 on Thursday. The firm has a fifty day moving average price of $2.45 and a 200 day moving average price of $1.61. The company has a market cap of $566.18 million, a P/E ratio of -4.02 and a beta of 1.94. Gossamer Bio, Inc. has a 12 month low of $0.66 and a 12 month high of $3.60.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. The firm had revenue of $11.49 million during 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%. On average, equities analysts forecast that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOSS. Wedbush upped their price objective on Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Wall Street Zen lowered Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. Finally, Scotiabank began coverage on Gossamer Bio in a research report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Gossamer Bio presently has an average rating of "Buy" and a consensus target price of $8.50.

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.

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