Gossamer Bio (NASDAQ:GOSS) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank started coverage on shares of Gossamer Bio (NASDAQ:GOSS - Free Report) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a sector outperform rating and a $11.00 target price on the stock.

A number of other research analysts have also 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. Wedbush restated an "outperform" rating and issued a $4.00 target price on shares of Gossamer Bio in a research report on Friday, May 16th. Finally, HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of Gossamer Bio in a report on Tuesday, March 18th.

Gossamer Bio Stock Performance

Gossamer Bio stock traded down $0.08 during trading hours on Monday, hitting $1.46. The company had a trading volume of 955,107 shares, compared to its average volume of 1,445,671. Gossamer Bio has a one year low of $0.66 and a one year high of $1.55. The firm has a 50-day moving average of $1.22 and a 200 day moving average of $1.12. The firm has a market cap of $330.72 million, a PE ratio of -6.33 and a beta of 1.86. The company has a debt-to-equity ratio of 6.70, a current ratio of 5.71 and a quick ratio of 5.71.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $9.89 million for the quarter, compared to analysts' expectations of $3.95 million. Gossamer Bio had a negative net margin of 41.12% and a negative return on equity of 128.98%. On average, sell-side analysts expect that Gossamer Bio will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Gossamer Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 825,047 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Gossamer Bio by 24.6% during the first quarter. Acadian Asset Management LLC now owns 6,358,113 shares of the company's stock worth $6,991,000 after purchasing an additional 1,253,353 shares during the last quarter. Focus Partners Wealth purchased a new position in Gossamer Bio during the first quarter worth about $770,000. Jane Street Group LLC boosted its holdings 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 last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Gossamer Bio during the first quarter worth about $213,000. 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.