Gossamer Bio (NASDAQ:GOSS) Trading Down 5% - Time to Sell?

Key Points

• Gossamer Bio's stock dropped by 5%, trading as low as $3.28, with a notable decrease in trading volume of 18% from its average.
• Analysts have mixed opinions on the stock; while Scotiabank rated it as a "sector outperform" with an $11.00 price target, Wedbush raised its target from $4.00 to $5.00, indicating an "outperform" rating.
• Gossamer Bio's recent earnings report showed a revenue of $11.49 million, significantly exceeding estimates, despite a negative return on equity of 1,774.72%.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report)'s stock price dropped 5% during trading on Monday . The company traded as low as $3.28 and last traded at $3.29. Approximately 1,814,135 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 2,209,282 shares. The stock had previously closed at $3.46.

Wall Street Analyst Weigh In

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

Gossamer Bio Price Performance

The stock has a market capitalization of $723.07 million, a price-to-earnings ratio of -5.13 and a beta of 1.95. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 6.70. The business has a 50-day simple moving average of $2.08 and a two-hundred day simple moving average of $1.46.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released 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 firm had revenue of $11.49 million during the quarter, compared to the consensus estimate of $4.12 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%. As a group, research analysts predict that Gossamer Bio, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

A number of institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Gossamer Bio in the second quarter worth approximately $129,000. Corient Private Wealth LLC lifted its position in 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 purchasing an additional 302,200 shares during the period. Lazard Asset Management LLC lifted its position in shares of 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. acquired a new stake in shares of Gossamer Bio during the 2nd quarter valued at $534,000. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of Gossamer Bio during the 2nd quarter valued at $27,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.

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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