Gossamer Bio (NASDAQ:GOSS) Shares Up 9% - What's Next?

Key Points

• Gossamer Bio's shares surged by 9% to $3.39, with trading volume increasing by 93% compared to the average session.
• Several research analysts rated Gossamer Bio's stock with a consensus rating of "Buy" and an average price target of $8.50, highlighting recent upgrades from various firms.
• The company reported a loss of $0.17 earnings per share for the recent quarter, but this was still an improvement over analysts' expectations, alongside significant revenue of $11.49 million.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) shot up 9% during trading on Thursday . The company traded as high as $3.39 and last traded at $3.39. 4,225,282 shares traded hands during trading, an increase of 93% from the average session volume of 2,183,854 shares. The stock had previously closed at $3.11.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank began coverage on shares of Gossamer Bio in a report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Gossamer Bio in a report on Thursday. Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wedbush boosted their price target on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group raised their price objective on Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $8.50.

Gossamer Bio Trading Up 11.3%

The firm has a market capitalization of $786.73 million, a PE ratio of -5.58 and a beta of 1.95. The firm has a fifty day moving average of $1.99 and a 200 day moving average of $1.43. The company has a debt-to-equity ratio of 6.70, a quick ratio of 4.40 and a current ratio of 4.40.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last posted 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 company had revenue of $11.49 million for the quarter, compared to analyst estimates of $4.12 million. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. Equities research analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GOSS. Acadian Asset Management LLC grew its stake in Gossamer Bio by 12.4% during the 2nd quarter. Acadian Asset Management LLC now owns 7,146,022 shares of the company's stock valued at $8,786,000 after purchasing an additional 787,909 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Gossamer Bio by 100.4% during the second quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company's stock worth $5,604,000 after buying an additional 2,282,632 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Gossamer Bio by 8.9% in the second quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company's stock worth $4,543,000 after buying an additional 302,200 shares during the last quarter. Millennium Management LLC increased its stake in shares of Gossamer Bio by 14.6% in the fourth 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 during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Gossamer Bio by 44.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,157,500 shares of the company's stock valued at $1,047,000 after acquiring an additional 357,500 shares in the last quarter. Institutional investors and hedge funds own 81.23% of the company's stock.

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.

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