Weiss Ratings Reaffirms "Sell (D-)" Rating for Gossamer Bio (NASDAQ:GOSS)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Gossamer Bio (NASDAQ:GOSS), indicating ongoing concerns about the company's performance.
• The stock price recently dropped by 3.2%, with current trading at $2.42 and a market capitalization of $550.26 million.
• Despite the negative outlook from Weiss Ratings, several analysts have issued a consensus rating of "Moderate Buy" with a target price of $8.50.

Gossamer Bio (NASDAQ:GOSS - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

GOSS has been the subject of several other research reports. Scotiabank assumed coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Gossamer Bio in a report on Thursday, September 11th. Wall Street Zen cut Gossamer Bio from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Finally, Wedbush increased their price target on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Gossamer Bio currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.

Gossamer Bio Stock Down 3.2%

Shares of GOSS opened at $2.42 on Wednesday. The company has a market capitalization of $550.26 million, a P/E ratio of -3.90 and a beta of 1.94. The firm has a 50 day moving average of $2.50 and a 200 day moving average of $1.65. Gossamer Bio has a twelve month low of $0.66 and a twelve month high of $3.60.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $11.49 million during the quarter, compared to the consensus estimate of $4.12 million. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. On average, sell-side analysts expect that Gossamer Bio will post -0.28 EPS for the current year.

Institutional Trading of Gossamer Bio

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Gossamer Bio in the 2nd quarter worth $26,000. Banco BTG Pactual S.A. purchased a new stake in Gossamer Bio in the 2nd quarter worth $27,000. Drive Wealth Management LLC lifted its stake in Gossamer Bio by 52.7% in the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock worth $31,000 after purchasing an additional 8,797 shares in the last quarter. Virtu Financial LLC purchased a new stake in Gossamer Bio in the 1st quarter worth $38,000. Finally, ProShare Advisors LLC purchased a new stake in Gossamer Bio in the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 81.23% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.