Gossamer Bio Target of Unusually High Options Trading (NASDAQ:GOSS)

Key Points

• Gossamer Bio experienced a significant spike in call options trading volume, with 12,802 calls purchased, representing a 2,066% increase from the average volume.
• Goldman Sachs raised its price target for Gossamer Bio from $7.00 to $8.00, maintaining a "buy" rating, while Wedbush set a target of $4.00 with an "outperform" rating.
• The company reported a quarterly earnings per share (EPS) of (0.16), surpassing analysts' estimates, with a revenue of $9.89 million significantly beating expectations of $3.95 million.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Traders bought 12,802 call options on the stock. This represents an increase of approximately 2,066% compared to the typical daily volume of 591 call options.

Analyst Ratings Changes

A number of research analysts have weighed in on GOSS shares. Wedbush reaffirmed an "outperform" rating and set a $4.00 price target on shares of Gossamer Bio in a research report on Friday, May 16th. 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 on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of Gossamer Bio from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, May 16th.

Gossamer Bio Stock Up 6.1%

Shares of NASDAQ:GOSS traded up $0.12 during midday trading on Wednesday, hitting $2.08. 3,898,912 shares of the company's stock traded hands, compared to its average volume of 2,510,962. Gossamer Bio has a twelve month low of $0.66 and a twelve month high of $2.18. The company has a market cap of $472.78 million, a PE ratio of -9.04 and a beta of 1.86. The company has a debt-to-equity ratio of 6.70, a quick ratio of 5.71 and a current ratio of 5.71. The firm's fifty day moving average price is $1.39 and its two-hundred day moving average price is $1.19.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. Gossamer Bio had a negative net margin of 41.12% and a negative return on equity of 128.98%. The firm had revenue of $9.89 million for the quarter, compared to the consensus estimate of $3.95 million. On average, equities research analysts anticipate that Gossamer Bio will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Octagon Capital Advisors LP raised its stake in shares of Gossamer Bio by 99.7% in the 4th quarter. Octagon Capital Advisors LP now owns 18,350,000 shares of the company's stock valued at $16,599,000 after purchasing an additional 9,162,117 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Gossamer Bio by 52.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 8,808,514 shares of the company's stock valued at $7,968,000 after purchasing an additional 3,041,058 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Gossamer Bio by 24.6% in the 1st quarter. Acadian Asset Management LLC now owns 6,358,113 shares of the company's stock valued at $6,991,000 after purchasing an additional 1,253,353 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Gossamer Bio by 720.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company's stock valued at $1,034,000 after buying an additional 825,047 shares during the period. Finally, Focus Partners Wealth acquired a new position in shares of Gossamer Bio in the 1st quarter valued at about $770,000. Hedge funds and other institutional investors own 81.23% of the company's stock.

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.