Wedbush Weighs in on Gossamer Bio, Inc.'s Q2 2024 Earnings (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) - Investment analysts at Wedbush boosted their Q2 2024 earnings estimates for shares of Gossamer Bio in a report released on Monday, May 6th. Wedbush analyst L. Chico now expects that the company will post earnings of $0.51 per share for the quarter, up from their previous forecast of ($0.20). Wedbush has a "Outperform" rating and a $4.00 price objective on the stock. The consensus estimate for Gossamer Bio's current full-year earnings is ($0.75) per share. Wedbush also issued estimates for Gossamer Bio's FY2024 earnings at ($0.10) EPS, FY2027 earnings at ($0.69) EPS and FY2028 earnings at ($0.51) EPS.

Several other equities analysts have also recently commented on GOSS. Piper Sandler restated an "overweight" rating and issued a $15.00 target price on shares of Gossamer Bio in a research report on Wednesday, March 27th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price target on shares of Gossamer Bio in a report on Monday. Finally, The Goldman Sachs Group decreased their price target on shares of Gossamer Bio from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Gossamer Bio has a consensus rating of "Moderate Buy" and an average target price of $7.65.

Gossamer Bio Price Performance

Shares of NASDAQ:GOSS traded down $0.01 during midday trading on Thursday, hitting $0.75. The stock had a trading volume of 1,675,287 shares, compared to its average volume of 1,370,390. The company's 50-day moving average price is $1.08 and its 200-day moving average price is $0.93. The company has a market capitalization of $168.67 million, a P/E ratio of -0.54 and a beta of 1.84. The company has a quick ratio of 5.94, a current ratio of 5.94 and a debt-to-equity ratio of 3.14. Gossamer Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.88.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21).

Institutional Investors Weigh In On Gossamer Bio

Institutional investors have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC bought a new stake in shares of Gossamer Bio in the 1st quarter valued at $29,000. SG Americas Securities LLC bought a new stake in shares of Gossamer Bio in the 1st quarter valued at $34,000. Financial Advocates Investment Management bought a new stake in shares of Gossamer Bio in the 3rd quarter valued at $61,000. Bank of New York Mellon Corp boosted its stake in shares of Gossamer Bio by 178.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 91,246 shares of the company's stock valued at $76,000 after purchasing an additional 58,428 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Gossamer Bio by 9,916.9% in the 3rd quarter. Citigroup Inc. now owns 196,732 shares of the company's stock valued at $164,000 after purchasing an additional 194,768 shares during the last quarter. 81.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Gossamer Bio news, CEO Faheem Hasnain sold 23,172 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.16, for a total transaction of $26,879.52. Following the sale, the chief executive officer now directly owns 120,293 shares of the company's stock, valued at approximately $139,539.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 33,620 shares of company stock valued at $39,682 in the last ninety days. 5.00% of the stock is currently owned by insiders.

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.