Gossamer Bio (NASDAQ:GOSS) Shares Down 4% - Time to Sell?

Key Points

• Gossamer Bio's stock fell by 4%, trading as low as $3.02, with a significant decrease in trading volume of 75% compared to its average session volume.
• Despite the stock's decline, analysts have a consensus rating of "Buy" with an average target price of $8.50, with some firms raising their price objectives.
• In their last earnings report, Gossamer Bio reported a revenue of $11.49 million, significantly exceeding expectations of $4.12 million, but still posted a negative EPS of ($0.17).

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) traded down 4% on Tuesday . The company traded as low as $3.02 and last traded at $3.04. 569,649 shares were traded during trading, a decline of 75% from the average session volume of 2,272,265 shares. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Sunday. Wedbush lifted their price objective on Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Scotiabank initiated coverage on Gossamer Bio in a research note on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $8.50.

Gossamer Bio Trading Down 2.5%

The business has a fifty day moving average price of $2.29 and a 200-day moving average price of $1.54. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 6.70. The company has a market cap of $700.33 million, a P/E ratio of -4.97 and a beta of 1.95.

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

Institutional Trading of Gossamer Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Gossamer Bio during the second quarter valued at $26,000. Banco BTG Pactual S.A. purchased a new stake in Gossamer Bio during the second quarter worth $27,000. Drive Wealth Management LLC raised its position in Gossamer Bio by 52.7% during the second quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock worth $31,000 after acquiring an additional 8,797 shares during the period. Virtu Financial LLC acquired a new stake in shares of Gossamer Bio in the first quarter valued at about $38,000. Finally, ProShare Advisors LLC purchased a new position in Gossamer Bio during the second quarter worth about $48,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.