Gossamer Bio, Inc. (NASDAQ:GOSS) Short Interest Down 5.8% in September

Gossamer Bio, Inc. (NASDAQ:GOSS) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 8,550,000 shares, a drop of 5.8% from the August 31st total of 9,080,000 shares. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 5.6 days.

Gossamer Bio Price Performance

Shares of NASDAQ GOSS opened at $1.05 on Wednesday. The company has a current ratio of 8.21, a quick ratio of 8.21 and a debt-to-equity ratio of 2.42. The stock has a market cap of $237.53 million, a price-to-earnings ratio of -0.93 and a beta of 1.95. The company’s 50-day moving average price is $0.92 and its 200 day moving average price is $0.89. Gossamer Bio has a 52 week low of $0.45 and a 52 week high of $1.60.

Gossamer Bio (NASDAQ:GOSS) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $95.84 million for the quarter, compared to analyst estimates of $160.00 million. As a group, research analysts forecast that Gossamer Bio will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $4.00 price objective on shares of Gossamer Bio in a report on Tuesday, August 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $8.00 price target on shares of Gossamer Bio in a report on Monday, June 17th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a report on Tuesday, September 17th. Finally, Oppenheimer began coverage on shares of Gossamer Bio in a research report on Tuesday, June 25th. They set an “outperform” rating and a $9.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $9.20.

Institutional Trading of Gossamer Bio

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its holdings in Gossamer Bio by 51.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,736,385 shares of the company’s stock valued at $3,227,000 after purchasing an additional 931,248 shares in the last quarter. Platinum Investment Management Ltd. raised its holdings in Gossamer Bio by 29.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 6,954,110 shares of the company’s stock valued at $6,346,000 after acquiring an additional 1,596,332 shares during the last quarter. NEA Management Company LLC boosted its holdings in shares of Gossamer Bio by 14.2% during the second quarter. NEA Management Company LLC now owns 18,093,034 shares of the company’s stock worth $16,300,000 after purchasing an additional 2,255,025 shares during the last quarter. Monaco Asset Management SAM grew its position in shares of Gossamer Bio by 390.3% in the second quarter. Monaco Asset Management SAM now owns 2,726,104 shares of the company’s stock valued at $2,456,000 after purchasing an additional 2,170,104 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Gossamer Bio by 27.2% during the second quarter. Sequoia Financial Advisors LLC now owns 93,500 shares of the company’s stock worth $84,000 after buying an additional 20,000 shares during the period. Institutional investors and hedge funds 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.