Q3 2024 Earnings Estimate for Gossamer Bio, Inc. Issued By Leerink Partnrs (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS) – Equities research analysts at Leerink Partnrs increased their Q3 2024 earnings estimates for Gossamer Bio in a note issued to investors on Wednesday, May 8th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings per share of ($0.23) for the quarter, up from their previous forecast of ($0.30). The consensus estimate for Gossamer Bio’s current full-year earnings is ($0.75) per share. Leerink Partnrs also issued estimates for Gossamer Bio’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.20) EPS, FY2025 earnings at ($0.96) EPS and FY2026 earnings at ($0.64) EPS.

GOSS has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a research note on Monday. Piper Sandler reiterated an “overweight” rating and set a $15.00 price target on shares of Gossamer Bio in a report on Wednesday, March 27th. Wedbush reissued an “outperform” rating and issued a $4.00 price objective on shares of Gossamer Bio in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on Gossamer Bio from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.65.

Gossamer Bio Price Performance

Shares of Gossamer Bio stock opened at $0.75 on Friday. The stock has a market cap of $168.67 million, a price-to-earnings ratio of -0.54 and a beta of 1.84. The company has a debt-to-equity ratio of 3.14, a quick ratio of 5.94 and a current ratio of 5.94. The stock has a 50 day moving average price of $1.07 and a 200-day moving average price of $0.93. Gossamer Bio has a one year low of $0.45 and a one year high of $1.88.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21).

Insider Transactions at Gossamer Bio

In related news, CEO Faheem Hasnain sold 23,172 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 owns 120,293 shares in the company, valued at $139,539.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 33,620 shares of company stock valued at $39,682. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Gossamer Bio

Hedge funds have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC bought a new stake in Gossamer Bio during the first quarter valued at about $29,000. SG Americas Securities LLC purchased a new stake in Gossamer Bio in the first quarter valued at about $34,000. Financial Advocates Investment Management acquired a new stake in Gossamer Bio in the third quarter worth about $61,000. Bank of New York Mellon Corp grew its stake in shares of Gossamer Bio by 178.0% during the third quarter. Bank of New York Mellon Corp now owns 91,246 shares of the company’s stock worth $76,000 after acquiring an additional 58,428 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Gossamer Bio by 9,916.9% during 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 in the last quarter. 81.23% of the stock is owned by hedge funds and other 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.