Gossamer Bio Sees Unusually Large 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 target of some unusual options trading on Wednesday. Stock traders purchased 2,867 call options on the company. This represents an increase of 145% compared to the average daily volume of 1,169 call options.

Wall Street Analyst Weigh In

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

Institutional Trading of Gossamer Bio

Several institutional investors and hedge funds have recently made changes to their positions in GOSS. State of Wyoming purchased a new position in shares of Gossamer Bio during the second quarter valued at $129,000. Corient Private Wealth LLC increased its stake in shares of Gossamer Bio by 8.9% during the second quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company's stock valued at $4,543,000 after buying an additional 302,200 shares during the period. Lazard Asset Management LLC grew its stake in Gossamer Bio by 53.9% in the second quarter. Lazard Asset Management LLC now owns 67,362 shares of the company's stock valued at $82,000 after purchasing an additional 23,601 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Gossamer Bio in the second quarter valued at about $534,000. Finally, Banco BTG Pactual S.A. purchased a new stake in shares of Gossamer Bio during the second quarter worth about $27,000. 81.23% of the stock is currently owned by institutional investors.

Gossamer Bio Trading Down 5.9%

GOSS traded down $0.21 during trading on Monday, reaching $3.26. The company had a trading volume of 2,705,496 shares, compared to its average volume of 2,216,422. Gossamer Bio has a 52 week low of $0.66 and a 52 week high of $3.60. The stock has a market cap of $740.12 million, a P/E ratio of -5.25 and a beta of 1.95. The business has a 50 day simple moving average of $2.08 and a 200-day simple moving average of $1.46. 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 released its earnings results 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 return on equity of 1,774.72% and a negative net margin of 344.81%.The business had revenue of $11.49 million during the quarter, compared to the consensus estimate of $4.12 million. On average, equities analysts anticipate that Gossamer Bio will post -0.28 EPS for the current fiscal year.

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.