Gossamer Bio (NASDAQ:GOSS) Releases Earnings Results

Key Points

• Gossamer Bio reported earnings per share (EPS) of ($0.17), beating analysts' expectation of ($0.18) by $0.01.
• The company's stock has a market capitalization of $490.97 million and a price-to-earnings ratio of -9.39.
• Analysts have set new price targets for Gossamer Bio, with Scotiabank rating it as "sector outperform" with a target of $11.00, while Goldman Sachs raised its target to $8.00.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01, Zacks reports. The business had revenue of $11.49 million during the quarter, compared to analyst estimates of $4.12 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%.

Gossamer Bio Stock Up 1.1%

GOSS traded up $0.02 during trading on Friday, hitting $1.76. The company had a trading volume of 3,069,886 shares, compared to its average volume of 3,500,859. Gossamer Bio has a 1-year low of $0.66 and a 1-year high of $2.23. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 5.71. The company has a market cap of $400.19 million, a PE ratio of -2.84 and a beta of 1.96. The business has a 50-day moving average of $1.51 and a 200-day moving average of $1.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOSS. Geode Capital Management LLC raised its stake in shares of Gossamer Bio by 100.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company's stock valued at $5,604,000 after purchasing an additional 2,282,632 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Gossamer Bio by 720.2% in the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company's stock valued at $1,034,000 after buying an additional 825,047 shares during the last quarter. Focus Partners Wealth acquired a new stake in Gossamer Bio during the first quarter valued at approximately $770,000. Jane Street Group LLC raised its stake in Gossamer Bio by 5,250.1% during the first quarter. Jane Street Group LLC now owns 683,423 shares of the company's stock valued at $752,000 after buying an additional 670,649 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Gossamer Bio during the 1st quarter worth approximately $213,000. 81.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOSS. The Goldman Sachs Group lifted their price objective 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. Scotiabank began coverage on shares of Gossamer Bio in a research note on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price target on the stock. Wall Street Zen cut shares of Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Wedbush raised their target price on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.

Gossamer Bio Company 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.