Gossamer Bio (NASDAQ:GOSS) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Gossamer Bio (NASDAQ:GOSS - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $4.00 price target on the stock.

GOSS has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price target on Gossamer Bio from $9.00 to $8.00 and set a buy rating for the company in a research report on Wednesday, March 6th. HC Wainwright reaffirmed a buy rating and set a $10.00 target price on shares of Gossamer Bio in a research report on Monday. Finally, Piper Sandler reissued an overweight rating and issued a $15.00 price target on shares of Gossamer Bio in a research report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $7.65.

Gossamer Bio Stock Up 3.3 %

NASDAQ:GOSS traded up $0.02 during mid-day trading on Wednesday, reaching $0.76. The stock had a trading volume of 4,244,854 shares, compared to its average volume of 1,366,831. The company has a debt-to-equity ratio of 3.14, a current ratio of 5.94 and a quick ratio of 5.94. The stock has a market cap of $170.89 million, a P/E ratio of -0.54 and a beta of 1.84. Gossamer Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.88. The business's 50 day moving average is $1.08 and its 200 day moving average is $0.93.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.21) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.21). As a group, sell-side analysts predict that Gossamer Bio will post -0.75 earnings per share for the current year.

Insider Activity

In other Gossamer Bio news, CEO Faheem Hasnain sold 23,172 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.16, for a total value of $26,879.52. Following the completion of the sale, the chief executive officer now directly owns 120,293 shares of the company's stock, valued at approximately $139,539.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 33,620 shares of company stock valued at $39,682. 5.00% of the stock is owned by company insiders.

Institutional Trading of Gossamer Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Sivia Capital Partners LLC bought a new position in Gossamer Bio in the first quarter worth $29,000. SG Americas Securities LLC bought a new position in shares of Gossamer Bio during the 1st quarter worth about $34,000. Financial Advocates Investment Management acquired a new stake in shares of Gossamer Bio during the 3rd quarter valued at about $61,000. Bank of New York Mellon Corp increased its stake in Gossamer Bio by 178.0% in the third quarter. Bank of New York Mellon Corp now owns 91,246 shares of the company's stock valued at $76,000 after acquiring an additional 58,428 shares during the period. Finally, Citigroup Inc. increased its stake in Gossamer Bio by 9,916.9% in the third quarter. Citigroup Inc. now owns 196,732 shares of the company's stock valued at $164,000 after acquiring an additional 194,768 shares during the period. 81.23% of the stock is currently owned by institutional investors.

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.