Gossamer Bio (NASDAQ:GOSS) Price Target Lowered to $3.00 at Oppenheimer

Gossamer Bio (NASDAQ:GOSS) had its target price reduced by stock analysts at Oppenheimer from $12.00 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 481.28% from the company’s current price.

A number of other brokerages have also recently issued reports on GOSS. The Goldman Sachs Group cut shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Barclays downgraded Gossamer Bio from an “overweight” rating to an “underweight” rating in a research note on Tuesday, February 24th. Wall Street Zen cut Gossamer Bio from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Leerink Partners lowered Gossamer Bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Wedbush restated a “neutral” rating and issued a $1.00 price target (down from $6.00) on shares of Gossamer Bio in a research report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Gossamer Bio currently has a consensus rating of “Hold” and an average price target of $6.14.

Gossamer Bio Trading Down 11.0%

Shares of NASDAQ:GOSS traded down $0.06 on Thursday, reaching $0.52. 15,854,670 shares of the company were exchanged, compared to its average volume of 17,156,555. The company has a 50-day moving average of $2.23 and a 200-day moving average of $2.60. The firm has a market cap of $119.46 million, a price-to-earnings ratio of -0.75 and a beta of 2.08. Gossamer Bio has a 1-year low of $0.33 and a 1-year high of $3.87.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Gossamer Bio during the second quarter worth about $26,000. Ciovacco Capital Management LLC acquired a new stake in Gossamer Bio during the third quarter worth approximately $27,000. Banco BTG Pactual S.A. purchased a new stake in Gossamer Bio in the 2nd quarter worth approximately $27,000. MMA Asset Management LLC acquired a new position in Gossamer Bio in the 4th quarter valued at $31,000. Finally, Soltis Investment Advisors LLC acquired a new position in Gossamer Bio in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.