Gossamer Bio (NASDAQ:GOSS) Stock Price 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 was down 5% during trading on Monday . The company traded as low as $3.28 and last traded at $3.29. Approximately 1,814,135 shares traded hands 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.

Analyst Ratings Changes

A number of research analysts recently commented on GOSS shares. Scotiabank started coverage on shares of Gossamer Bio in a report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a report on Thursday, September 11th. Wedbush increased their price target on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Gossamer Bio from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Gossamer Bio has an average rating of "Buy" and an average price target of $8.50.

Gossamer Bio Trading Down 1.0%

The company has a market capitalization of $693.51 million, a PE ratio of -4.92 and a beta of 1.95. The company's fifty day moving average is $2.26 and its 200-day moving average is $1.53. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 4.40.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts anticipate that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Gossamer Bio

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in Gossamer Bio by 24.6% during the first quarter. Acadian Asset Management LLC now owns 6,358,113 shares of the company's stock valued at $6,991,000 after buying an additional 1,253,353 shares during the period. Two Sigma Investments LP grew its holdings in Gossamer Bio by 41.3% in the fourth quarter. Two Sigma Investments LP now owns 891,279 shares of the company's stock worth $806,000 after purchasing an additional 260,318 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Gossamer Bio in the first quarter worth $387,000. Two Sigma Advisers LP grew 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 worth $1,047,000 after purchasing an additional 357,500 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Gossamer Bio by 499.0% in the fourth quarter. Mackenzie Financial Corp now owns 299,815 shares of the company's stock worth $271,000 after purchasing an additional 249,765 shares during the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

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.