Gossamer Bio (NASDAQ:GOSS) Sets New 12-Month High - Here's Why

Key Points

• Gossamer Bio's stock reached a new 52-week high of $3.00 during trading, although it last traded at $2.66 with over 5.5 million shares exchanged.
• Recent analyst ratings show a mix of upgrades and downgrades, with target prices ranging from $5.00 to $11.00, leading to a consensus target price of $8.50.
• The company reported better-than-expected earnings with $11.49 million in revenue, exceeding analysts' estimates significantly, although it continues to have a negative return on equity.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $3.00 and last traded at $2.66, with a volume of 5546023 shares trading hands. The stock had previously closed at $2.94.

Analyst Ratings Changes

GOSS has been the topic of a number of research analyst reports. Wedbush lifted their target price on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. The Goldman Sachs Group lifted their target price on Gossamer Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Scotiabank initiated coverage on Gossamer Bio in a research report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Gossamer Bio currently has an average rating of "Buy" and a consensus target price of $8.50.

Gossamer Bio Price Performance

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 stock has a 50 day moving average price of $1.93 and a two-hundred day moving average price of $1.41. The firm has a market capitalization of $604.83 million, a price-to-earnings ratio of -4.29 and a beta of 1.95.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%.The business had revenue of $11.49 million during the quarter, compared to analysts' expectations of $4.12 million. As a group, analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Gossamer Bio

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Gossamer Bio in the second quarter valued at $26,000. Banco BTG Pactual S.A. acquired a new position in Gossamer Bio during the 2nd quarter worth $27,000. Drive Wealth Management LLC grew its stake in Gossamer Bio by 52.7% during the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock worth $31,000 after purchasing an additional 8,797 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Gossamer Bio during the 4th quarter worth $32,000. Finally, Virtu Financial LLC acquired a new position in Gossamer Bio during the 1st quarter worth $38,000. 81.23% of the stock is owned by institutional investors and hedge funds.

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.

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