Gossamer Bio (NASDAQ:GOSS) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Gossamer Bio has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analyst sentiment toward the stock.
• Recent analyst reports show a range of ratings for Gossamer Bio, with price targets varying from $5.00 to $11.00 and a consensus rating of "Moderate Buy" at a target price of $8.50.
• The company's Earnings per Share (EPS) for the last quarter was reported at ($0.17), beating expectations, but it continues to face challenges with a negative net margin of 344.81%.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Scotiabank began 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 on the stock. Finally, Wedbush boosted their price objective 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. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

Gossamer Bio Stock Performance

GOSS traded up $0.19 on Friday, hitting $1.93. The company's stock had a trading volume of 1,734,575 shares, compared to its average volume of 1,937,921. The company's 50 day simple moving average is $1.52 and its 200-day simple moving average is $1.25. The firm has a market cap of $437.71 million, a P/E ratio of -3.10 and a beta of 1.96. Gossamer Bio has a 12 month low of $0.66 and a 12 month high of $2.23. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 6.70.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $11.49 million for 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%. Analysts forecast that Gossamer Bio will post -0.28 EPS for the current year.

Institutional Trading of Gossamer Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOSS. Legal & General Group Plc purchased a new stake in shares of Gossamer Bio in the second quarter worth $26,000. Drive Wealth Management LLC grew its stake in shares of Gossamer Bio by 52.7% in the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock worth $31,000 after buying an additional 8,797 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Gossamer Bio in the 4th quarter worth $32,000. Virtu Financial LLC purchased a new position in shares of Gossamer Bio during the 1st quarter worth about $38,000. Finally, Fullcircle Wealth LLC purchased a new position in shares of Gossamer Bio during the 4th quarter worth about $43,000. 81.23% of the stock is 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.