Gossamer Bio (NASDAQ:GOSS) Stock Price Down 5.6% - Time to Sell?

Key Points

• Gossamer Bio shares fell by 5.6%, trading as low as $2.39 and seeing a major volume drop of 73% compared to the average.
• Despite the recent decline, analysts have mixed ratings, with Cantor Fitzgerald maintaining an "overweight" rating while Weiss Ratings issued a "sell" rating.
• The company reported earnings of ($0.17) per share, exceeding expectations, with a revenue of $11.49 million for the quarter.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) shares fell 5.6% during mid-day trading on Monday . The stock traded as low as $2.39 and last traded at $2.43. 645,566 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,359,252 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Wedbush increased 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. Scotiabank started coverage on shares of 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. Weiss Ratings restated a "sell (d-)" rating on shares of Gossamer Bio in a report on Saturday, September 27th. Finally, Wall Street Zen lowered Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.

Gossamer Bio Trading Down 6.2%

The company has a fifty day moving average of $2.48 and a 200-day moving average of $1.63. The company has a market capitalization of $547.99 million, a price-to-earnings ratio of -3.89 and a beta of 1.94.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $11.49 million for the quarter, compared to analysts' expectations of $4.12 million. As a group, equities research analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Gossamer Bio

Several institutional investors have recently modified their holdings of GOSS. Corient Private Wealth LLC increased its position in Gossamer Bio by 8.9% during the 2nd quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company's stock worth $4,543,000 after purchasing an additional 302,200 shares in the last quarter. State of Wyoming acquired a new position in shares of Gossamer Bio in the second quarter worth about $129,000. Lazard Asset Management LLC boosted its stake in Gossamer Bio by 53.9% during the 2nd quarter. Lazard Asset Management LLC now owns 67,362 shares of the company's stock valued at $82,000 after acquiring an additional 23,601 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Gossamer Bio in the 2nd quarter valued at approximately $534,000. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Gossamer Bio during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 81.23% of the company's stock.

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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