Gossamer Bio (NASDAQ:GOSS) Stock Price Up 7.4% – What’s Next?

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) were up 7.4% on Friday . The stock traded as high as $2.73 and last traded at $2.6950. Approximately 795,310 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 2,438,645 shares. The stock had previously closed at $2.51.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Gossamer Bio from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a report on Wednesday, October 8th. Finally, Wedbush increased their price target on shares of Gossamer Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Gossamer Bio Price Performance

The company has a market capitalization of $635.36 million, a price-to-earnings ratio of -3.98 and a beta of 1.85. The firm’s 50-day simple moving average is $2.62 and its two-hundred day simple moving average is $1.92.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%.The firm had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $6.32 million. On average, analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Gossamer Bio by 107.2% in the 4th quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock valued at $77,000 after acquiring an additional 43,866 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Gossamer Bio by 17.6% in the first quarter. Mackenzie Financial Corp now owns 352,473 shares of the company’s stock valued at $388,000 after purchasing an additional 52,658 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Gossamer Bio during the 1st quarter worth approximately $48,000. Virtu Financial LLC purchased a new stake in Gossamer Bio in the 1st quarter valued at approximately $38,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Gossamer Bio during the 1st quarter valued at $387,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.