Gossamer Bio (NASDAQ:GOSS) Issues Earnings Results, Beats Expectations By $0.01 EPS

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) issued its quarterly earnings results on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01, Zacks reports. Gossamer Bio had a negative return on equity of 128.98% and a negative net margin of 41.12%.

Gossamer Bio Trading Down 0.5%

NASDAQ:GOSS traded down $0.01 during trading hours on Tuesday, hitting $2.16. 3,074,313 shares of the company were exchanged, compared to its average volume of 3,140,681. The stock has a market capitalization of $490.97 million, a price-to-earnings ratio of -9.39 and a beta of 1.96. The company has a current ratio of 5.71, a quick ratio of 5.71 and a debt-to-equity ratio of 6.70. Gossamer Bio has a one year low of $0.66 and a one year high of $2.23. The company has a fifty day simple moving average of $1.47 and a 200 day simple moving average of $1.22.

Analysts Set New Price Targets

GOSS has been the topic of a number of analyst reports. Scotiabank initiated coverage on Gossamer Bio in a research report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price target on the stock. The Goldman Sachs Group increased their price target on Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Wedbush restated an "outperform" rating and set a $4.00 target price on shares of Gossamer Bio in a research note on Friday, May 16th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GOSS. Bank of America Corp DE raised its position in Gossamer Bio by 107.2% during the 4th 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. Invesco Ltd. acquired a new stake in Gossamer Bio during the first quarter worth approximately $48,000. Cubist Systematic Strategies LLC acquired a new stake in Gossamer Bio during the first quarter worth approximately $213,000. Goldman Sachs Group Inc. grew its stake in Gossamer Bio by 720.2% during the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company's stock worth $1,034,000 after purchasing an additional 825,047 shares during the period. Finally, Jane Street Group LLC grew 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 worth $752,000 after purchasing an additional 670,649 shares during the period. 81.23% of the stock is owned by 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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