Gossamer Bio Sees Unusually High Options Volume (NASDAQ:GOSS)

Key Points

• Gossamer Bio experienced a significant surge in options trading, with 2,867 call options purchased, marking a 145% increase from the average volume.
• Recent institutional activity includes State of Wyoming making a new investment of approximately $129,000, while Corient Private Wealth increased its stake by 8.9% to own 3.69 million shares.
• The company's stock reached a mid-day trading price of $3.02, reflecting a notable increase, despite a reported negative net margin of 344.81% in its most recent earnings report.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 2,867 call options on the stock. This is an increase of 145% compared to the average volume of 1,169 call options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming purchased a new position in Gossamer Bio in the 2nd quarter valued at about $129,000. Corient Private Wealth LLC lifted its stake in 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 purchasing an additional 302,200 shares in the last quarter. Lazard Asset Management LLC lifted its stake in 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 purchasing an additional 23,601 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Gossamer Bio during the 2nd quarter valued at approximately $534,000. Finally, Banco BTG Pactual S.A. purchased a new stake in shares of Gossamer Bio during the 2nd quarter valued at approximately $27,000. 81.23% of the stock is owned by hedge funds and other institutional investors.

Gossamer Bio Stock Performance

NASDAQ:GOSS traded up $0.25 during mid-day trading on Wednesday, hitting $3.02. The company's stock had a trading volume of 4,934,881 shares, compared to its average volume of 2,127,197. Gossamer Bio has a 1 year low of $0.66 and a 1 year high of $3.40. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 4.40. The stock has a market cap of $685.55 million, a price-to-earnings ratio of -4.90 and a beta of 1.95. The business's fifty day moving average is $1.96 and its two-hundred day moving average is $1.42.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, beating 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 company had revenue of $11.49 million for the quarter, compared to analyst estimates of $4.12 million. Analysts anticipate that Gossamer Bio will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOSS shares. Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wedbush upped their target price on Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Scotiabank initiated coverage on 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, The Goldman Sachs Group upped their price target on Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Gossamer Bio has an average rating of "Buy" and a consensus target price of $8.50.

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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