Drive Wealth Management LLC Purchases 8,797 Shares of Gossamer Bio, Inc. $GOSS

Drive Wealth Management LLC lifted its position in shares of Gossamer Bio, Inc. (NASDAQ:GOSS) by 52.7% in the second quarter, HoldingsChannel.com reports. The fund owned 25,474 shares of the company’s stock after buying an additional 8,797 shares during the period. Drive Wealth Management LLC’s holdings in Gossamer Bio were worth $31,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Gossamer Bio during the 1st quarter worth approximately $38,000. Invesco Ltd. bought a new stake in shares of Gossamer Bio during the 1st quarter worth approximately $48,000. Bank of America Corp DE lifted its holdings in shares of Gossamer Bio by 107.2% during the 4th quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock worth $77,000 after acquiring an additional 43,866 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Gossamer Bio during the 1st quarter worth approximately $213,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Gossamer Bio during the 1st quarter worth approximately $387,000. Institutional investors own 81.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOSS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Scotiabank began coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They issued a “sector outperform” rating and a $11.00 target price on the stock. Wedbush raised their target price on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Gossamer Bio presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Gossamer Bio Price Performance

Shares of Gossamer Bio stock opened at $2.18 on Wednesday. Gossamer Bio, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $3.60. The firm has a market capitalization of $495.69 million, a P/E ratio of -3.52 and a beta of 1.94. The company’s 50 day moving average price is $2.57 and its two-hundred day moving average price is $1.73.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm 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, analysts expect that Gossamer Bio, Inc. will post -0.28 earnings per share for the current year.

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.