Gossamer Bio (NASDAQ:GOSS) Trading Down 5.1% - Time to Sell?

Key Points

• Gossamer Bio's stock fell by 5.1% during trading, closing at $2.68 after previously trading as low as $2.72, with significantly decreased trading volume.
• Wall Street analysts show mixed sentiments; while Wedbush raised its target price to $5.00 and five analysts rated it as a Buy, Wall Street Zen cut its rating to Sell.
• The company reported a revenue of $11.49 million for the quarter, surpassing expectations, although it still posted a negative earnings per share of ($0.17).

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) shares were down 5.1% during trading on Tuesday . The stock traded as low as $2.72 and last traded at $2.68. Approximately 137,421 shares were traded during trading, a decline of 94% from the average daily volume of 2,322,315 shares. The stock had previously closed at $2.82.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOSS shares. Wedbush increased their target price 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. Cantor Fitzgerald restated an "overweight" rating on shares of Gossamer Bio in a report on Thursday, September 11th. Scotiabank started coverage on shares of Gossamer Bio in a report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 target price for the company. Finally, Wall Street Zen cut shares of Gossamer Bio from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Gossamer Bio currently has a consensus rating of "Buy" and an average target price of $8.50.

Gossamer Bio Trading Down 6.2%

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 business has a fifty day simple moving average of $2.42 and a 200 day simple moving average of $1.60. The stock has a market capitalization of $601.42 million, a price-to-earnings ratio of -4.25 and a beta of 1.95.

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 for the quarter, topping 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 business had revenue of $11.49 million during the quarter, compared to analysts' expectations of $4.12 million. As a group, research analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Trading of Gossamer Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new stake in Gossamer Bio in the 2nd quarter worth about $26,000. Banco BTG Pactual S.A. bought a new position in Gossamer Bio in the 2nd quarter valued at about $27,000. Drive Wealth Management LLC increased its holdings in Gossamer Bio by 52.7% in the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock valued at $31,000 after buying an additional 8,797 shares during the period. Virtu Financial LLC bought a new position in Gossamer Bio in the 1st quarter valued at about $38,000. Finally, ProShare Advisors LLC bought a new position in Gossamer Bio in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds 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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