Gossamer Bio (NASDAQ:GOSS) Shares Down 6% - Time to Sell?

Key Points

• Gossamer Bio's shares fell by 6% on Monday, trading between $2.63 and $2.77, with a total volume that exceeded average trading levels by 29%.
• Analysts have mixed sentiments, with Scotiabank issuing a "sector outperform" rating and a target price of $11.00, while Wall Street Zen downgraded the stock to a "sell" rating.
• The company reported a quarterly EPS of (0.17), surpassing estimates, alongside a revenue of $11.49 million, significantly exceeding the expected $4.12 million.

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) were down 6% on Monday . The stock traded as low as $2.63 and last traded at $2.77. Approximately 2,697,974 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 2,097,334 shares. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOSS shares. Scotiabank assumed coverage on shares of Gossamer Bio in a report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 price objective on the stock. Wall Street Zen lowered Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. The Goldman Sachs Group upped their target price on Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Wedbush upped their price target on shares of Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $8.50.

Gossamer Bio Stock Down 9.5%

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 capitalization of $604.83 million, a price-to-earnings ratio of -4.29 and a beta of 1.95. The business has a 50-day moving average price of $1.90 and a 200-day moving average price of $1.40.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. The firm had revenue of $11.49 million during the quarter, compared to analysts' expectations of $4.12 million. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. As a group, equities analysts anticipate that Gossamer Bio, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Gossamer Bio

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

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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