Gossamer Bio Sees Unusually Large Options Volume (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) saw unusually large options trading activity on Tuesday. Stock traders purchased 12,802 call options on the company. Thisisanincreaseof2,066% compared to the average daily volume of 591 call options.

Hedge Funds Weigh In On Gossamer Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Drive Wealth Management LLC raised its stake in shares of Gossamer Bio by 52.7% in the second quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock valued at $31,000 after acquiring an additional 8,797 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Gossamer Bio by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,241,979 shares of the company's stock valued at $1,123,000 after purchasing an additional 13,902 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Gossamer Bio during the 4th quarter worth $32,000. Virtu Financial LLC bought a new position in shares of Gossamer Bio during the 1st quarter worth approximately $38,000. Finally, Geode Capital Management LLC grew its stake in Gossamer Bio by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,250,461 shares of the company's stock worth $2,037,000 after buying an additional 38,084 shares during the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Scotiabank initiated coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 target price for the company. Finally, Wedbush reissued an "outperform" rating and issued a $4.00 price objective on shares of Gossamer Bio in a report on Friday, May 16th.

Gossamer Bio Price Performance

NASDAQ:GOSS traded down $0.04 on Friday, reaching $2.00. 2,685,966 shares of the company's stock traded hands, compared to its average volume of 2,775,451. The firm has a market cap of $454.60 million, a PE ratio of -8.70 and a beta of 1.95. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 6.70. Gossamer Bio has a 12 month low of $0.66 and a 12 month high of $2.18. The stock has a 50-day simple moving average of $1.41 and a 200-day simple moving average of $1.20.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. The firm had revenue of $9.89 million during the quarter, compared to analyst estimates of $3.95 million. Gossamer Bio had a negative return on equity of 128.98% and a negative net margin of 41.12%. Equities research analysts forecast that Gossamer Bio will post -0.28 earnings per share for the current 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.