Gossamer Bio (NASDAQ:GOSS) Stock Crosses Above 50-Day Moving Average After Earnings Miss

Key Points

• Gossamer Bio shares moved above their 50-day moving average, reaching $11.54 intraday and last trading at $11.28, compared with a 50-day average of $10.71.
• Quarterly results were mixed: EPS of -$7.36 missed analyst expectations of -$3.79, while revenue of $38.43 million topped estimates of $12.16 million.
• Analyst views are divided, with five Buy, three Hold, and two Sell ratings; MarketBeat reports a consensus rating of Hold.

Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) shares passed above its 50-day moving average during trading on Tuesday following a stronger than expected earnings report. The stock has a 50-day moving average of $10.71 and traded as high as $11.54. Gossamer Bio shares last traded at $11.28, with a volume of 99,581 shares trading hands.

The company reported ($7.36) EPS for the quarter, missing the consensus estimate of ($3.79) by ($3.57). The firm had revenue of $38.43 million for the quarter, compared to analyst estimates of $12.16 million.

Wall Street Analyst Weigh In

Several research firms have commented on GOSS. Weiss Ratings lowered shares of Gossamer Bio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, November 4th. Chardan Capital reiterated a "buy" rating on shares of Gossamer Bio in a research note on Monday, October 26th. Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a report on Sunday, September 20th. HC Wainwright restated a "buy" rating on shares of Gossamer Bio in a research note on Thursday, August 27th. Finally, Leerink Partners upgraded Gossamer Bio from a "market perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $256.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ADAR1 Capital Management LLC acquired a new stake in Gossamer Bio in the second quarter valued at approximately $35,000. Hsbc Holdings PLC purchased a new stake in shares of Gossamer Bio in the first quarter valued at approximately $38,000. SG Americas Securities LLC increased its position in shares of Gossamer Bio by 73.4% in the first quarter. SG Americas Securities LLC now owns 128,568 shares of the company's stock valued at $42,000 after buying an additional 54,439 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Gossamer Bio in the second quarter valued at approximately $65,000. Finally, Ieq Capital LLC acquired a new position in shares of Gossamer Bio during the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds own 81.23% of the company's stock.

Gossamer Bio Stock Performance

The firm has a market capitalization of $68.92 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. The company has a 50 day moving average price of $10.71 and a two-hundred day moving average price of $35.96.

Gossamer Bio Company Profile

Gossamer Bio, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing medicines for diseases with significant unmet medical needs. The company concentrates primarily on immunology, inflammation and pulmonary disorders. Its lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways involving platelet-derived growth factor, colony-stimulating factor 1 and stem cell factor receptors. Gossamer is developing seralutinib for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.

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