Gossamer Bio (NASDAQ:GOSS) Releases Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Gossamer Bio reported Q earnings of ($0.21) EPS, missing estimates by $0.01, while revenue of $13.8 million beat expectations of $7.53 million; the company remains deeply unprofitable with a negative ROE of 1,774.72% and a net margin of -354.5%.
• Shares rose about 3.9% to $0.47 after the report, but several analysts have cut ratings and targets and MarketBeat's consensus is a "Hold" with a $5.43 target, while institutional investors own roughly 81.23% of the stock.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01), FiscalAI reports. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%.The business had revenue of $13.80 million during the quarter, compared to analyst estimates of $7.53 million.

Gossamer Bio Stock Up 3.9%

NASDAQ GOSS opened at $0.47 on Wednesday. The company has a market capitalization of $109.69 million, a P/E ratio of -0.69 and a beta of 2.09. Gossamer Bio has a 12-month low of $0.33 and a 12-month high of $3.87. The firm has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $2.49.

Institutional Trading of Gossamer Bio

Large investors have recently made changes to their positions in the company. Legal & General Group Plc acquired a new stake in Gossamer Bio during the 2nd quarter worth approximately $26,000. Banco BTG Pactual S.A. acquired a new position in Gossamer Bio in the second quarter valued at $27,000. Beacon Pointe Advisors LLC bought a new stake in Gossamer Bio in the fourth quarter worth approximately $34,000. Ieq Capital LLC bought a new stake in shares of Gossamer Bio in the 4th quarter valued at $35,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Gossamer Bio during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 81.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of Gossamer Bio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Barclays cut Gossamer Bio from an "overweight" rating to an "underweight" rating in a research note on Tuesday, February 24th. HC Wainwright dropped their target price on Gossamer Bio from $10.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, March 6th. Leerink Partners downgraded shares of Gossamer Bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Finally, Wedbush reaffirmed a "neutral" rating and set a $1.00 price target (down from $6.00) on shares of Gossamer Bio in a research report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Gossamer Bio has a consensus rating of "Hold" and a consensus target price of $5.43.

Gossamer Bio Company Profile

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company's lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.