Gossamer Bio (NASDAQ:GOSS) Trading Up 7.9% - Still a Buy?

Key Points

• The stock price of Gossamer Bio, Inc. rose 7.9% to $2.67, with trading volume significantly down by 60% compared to its average.
• Recent analyst reports show mixed ratings, with Wall Street Zen downgrading Gossamer Bio to a "sell", while other firms have set price targets ranging from $5.00 to $11.00.
• Gossamer Bio reported a negative net margin of 344.81% and a market capitalization of approximately $596.87 million, while analysts predict an EPS of -0.28 for the current fiscal year.

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) traded up 7.9% during mid-day trading on Tuesday . The company traded as high as $2.64 and last traded at $2.67. 803,775 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,003,873 shares. The stock had previously closed at $2.47.

Wall Street Analyst Weigh In

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

Gossamer Bio Stock Up 17.1%

The company has a market capitalization of $668.50 million, a PE ratio of -4.74 and a beta of 1.95. The company has a debt-to-equity ratio of 6.70, a quick ratio of 4.40 and a current ratio of 4.40. The stock's 50 day moving average is $1.90 and its 200 day moving average is $1.40.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. The business 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%. On average, sell-side analysts anticipate that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Trading of Gossamer Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming bought a new stake in Gossamer Bio during the 2nd quarter worth approximately $129,000. Corient Private Wealth LLC increased its holdings in shares of Gossamer Bio by 8.9% in the 2nd 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. Lazard Asset Management LLC increased its holdings in shares of Gossamer Bio by 53.9% in the 2nd quarter. Lazard Asset Management LLC now owns 67,362 shares of the company's stock worth $82,000 after buying an additional 23,601 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of Gossamer Bio in the 2nd quarter worth $534,000. Finally, Banco BTG Pactual S.A. bought a new position in shares of Gossamer Bio in the 2nd quarter worth $27,000. 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.