Gossamer Bio (NASDAQ:GOSS) Hits New 12-Month Low - What's Next?

Key Points

• Gossamer Bio shares hit a new 52-week low, trading as low as $8.0301 before last changing hands at $11.2540. The company has a market capitalization of approximately $2.56 billion.
• Analyst sentiment is mixed: four analysts rate the stock Buy, three Hold, and two Sell, resulting in a consensus Hold rating and a $3.20 price target.
• Institutional investors own 81.23% of the shares, with several firms increasing or initiating positions. Gossamer Bio is developing oral therapies for immune-mediated, inflammatory and oncology conditions, including lead programs GB004 and GB1275.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.0301 and last traded at $11.2540, with a volume of 190 shares changing hands. The stock had previously closed at $11.3920.

Wall Street Analyst Weigh In

GOSS has been the subject of a number of research reports. Leerink Partners upgraded Gossamer Bio from a "market perform" rating to an "outperform" rating and set a $1.00 price objective for the company in a research report on Tuesday, July 28th. Weiss Ratings upgraded Gossamer Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. Finally, HC Wainwright restated a "buy" rating on shares of Gossamer Bio in a research note on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $3.20.

Gossamer Bio Price Performance

The firm has a market cap of $2.56 billion, a P/E ratio of -15.44 and a beta of 2.00. The stock's 50 day moving average is $0.17 and its two-hundred day moving average is $0.27.

Institutional Investors Weigh In On Gossamer Bio

Large investors have recently modified their holdings of the stock. Corient Private Wealth LP raised its holdings in shares of Gossamer Bio by 41.3% in the 2nd quarter. Corient Private Wealth LP now owns 5,632,698 shares of the company's stock worth $927,000 after buying an additional 1,647,315 shares in the last quarter. Hsbc Holdings PLC grew its position in Gossamer Bio by 1,289.4% in the second quarter. Hsbc Holdings PLC now owns 1,583,118 shares of the company's stock valued at $267,000 after acquiring an additional 1,469,175 shares during the period. Bank of America Corp DE bought a new stake in Gossamer Bio in the second quarter valued at $65,000. Hhlr Advisors LTD. acquired a new position in Gossamer Bio during the second quarter worth $819,000. Finally, ARCH Venture Management LLC acquired a new position in Gossamer Bio during the second quarter worth $1,326,004. 81.23% of the stock is currently owned by institutional investors.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company's lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.

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