Gossamer Bio (NASDAQ:GOSS) Hits New 1-Year High - Here's Why

Key Points

• Gossamer Bio's stock hit a new 52-week high, trading at $2.65, while analysts project a consensus price target of $8.50 with several upgrade ratings.
• The company recently reported earnings of ($0.17) EPS, exceeding expectations, with revenue reaching $11.49 million against a forecast of $4.12 million.
• Large investors have been actively adjusting their positions, with significant increases in holdings from companies like Geode Capital Management and Alyeska Investment Group.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $2.65 and last traded at $2.46, with a volume of 4254352 shares changing hands. The stock had previously closed at $2.53.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOSS shares. The Goldman Sachs Group boosted their price target on shares of Gossamer Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen lowered Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wedbush boosted their target price on Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Scotiabank began coverage on 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. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $8.50.

Gossamer Bio Trading Down 2.8%

The stock has a 50 day moving average of $1.73 and a 200 day moving average of $1.34. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 4.40. The firm has a market cap of $559.35 million, a P/E ratio of -3.97 and a beta of 1.96.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (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 analysts' expectations of $4.12 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%. As a group, equities research analysts predict that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 38,084 shares during the last quarter. Allostery Investments LP purchased a new position in Gossamer Bio in the 4th quarter worth $555,000. Alyeska Investment Group L.P. lifted its stake in Gossamer Bio by 52.7% in the fourth 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. Bank of America Corp DE lifted its stake in Gossamer Bio by 107.2% in the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company's stock worth $77,000 after purchasing an additional 43,866 shares during the last quarter. Finally, Fullcircle Wealth LLC purchased a new stake in Gossamer Bio during the fourth quarter valued at about $43,000. 81.23% of the stock is owned by hedge funds and other institutional investors.

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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