Gossamer Bio (NASDAQ:GOSS) Shares Gap Up - Should You Buy?

Key Points

• Gossamer Bio's stock opened at $2.99, after previously closing at $2.77, and last traded at $3.04 with significant trading volume of 4,192,385 shares.
• Analysts have mixed ratings for Gossamer Bio, with Scotiabank giving it a "sector outperform" rating with a target price of $11.00, while Wall Street Zen downgraded it to a "sell" rating.
• The company reported earnings of ($0.17) EPS, beating expectations, and generated revenue of $11.49 million in the latest quarter, indicating strong performance relative to analyst estimates.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.77, but opened at $2.99. Gossamer Bio shares last traded at $3.04, with a volume of 4,192,385 shares changing hands.

Wall Street Analyst Weigh In

GOSS has been the subject of several recent research reports. Wall Street Zen raised Gossamer Bio from a "sell" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Gossamer Bio in a report on Thursday. Scotiabank began coverage on Gossamer Bio in a report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 target price on the stock. Finally, Wedbush upped their target price on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $8.50.

Gossamer Bio Price Performance

The firm has a market capitalization of $786.74 million, a P/E ratio of -5.58 and a beta of 1.95. The company has a fifty day moving average of $2.08 and a 200 day moving average of $1.46. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 4.40.

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

Hedge Funds Weigh In On Gossamer Bio

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP boosted its holdings in shares of Gossamer Bio by 41.3% during the 4th quarter. Two Sigma Investments LP now owns 891,279 shares of the company's stock worth $806,000 after buying an additional 260,318 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Gossamer Bio during the 1st quarter worth approximately $387,000. Two Sigma Advisers LP boosted its holdings in shares of Gossamer Bio by 44.7% during the 4th quarter. Two Sigma Advisers LP now owns 1,157,500 shares of the company's stock worth $1,047,000 after buying an additional 357,500 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Gossamer Bio by 499.0% during the 4th quarter. Mackenzie Financial Corp now owns 299,815 shares of the company's stock worth $271,000 after buying an additional 249,765 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Gossamer Bio by 14.6% during the 4th quarter. Millennium Management LLC now owns 3,586,067 shares of the company's stock worth $3,244,000 after buying an additional 457,179 shares in the last quarter. 81.23% of the stock is currently 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.