Gossamer Bio (NASDAQ:GOSS) Stock Price Down 3.6% – What’s Next?

Gossamer Bio, Inc. (NASDAQ:GOSS)’s stock price dropped 3.6% during trading on Tuesday . The stock traded as low as $3.09 and last traded at $3.0950. Approximately 1,331,118 shares changed hands during trading, a decline of 49% from the average daily volume of 2,620,162 shares. The stock had previously closed at $3.21.

Analyst Ratings Changes

GOSS has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Wall Street Zen upgraded Gossamer Bio from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Gossamer Bio Stock Down 4.2%

The stock has a market cap of $711.74 million, a P/E ratio of -4.47 and a beta of 1.92. The company’s 50 day moving average price is $2.99 and its two-hundred day moving average price is $2.42.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data 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. As a group, equities research analysts forecast that Gossamer Bio, Inc. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Gossamer Bio

Large investors have recently modified their holdings of the business. Millennium Management LLC lifted its position in shares of Gossamer Bio by 629.3% in the 3rd quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock worth $9,519,000 after purchasing an additional 3,123,081 shares during the period. Bank of America Corp DE raised its stake in Gossamer Bio by 4,196.2% in the third quarter. Bank of America Corp DE now owns 2,881,904 shares of the company’s stock worth $7,579,000 after buying an additional 2,814,824 shares in the last quarter. UBS Group AG lifted its holdings in Gossamer Bio by 785.7% during the third quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock worth $7,285,000 after buying an additional 2,457,304 shares during the period. Geode Capital Management LLC lifted its holdings in Gossamer Bio by 100.4% during the second quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock worth $5,604,000 after buying an additional 2,282,632 shares during the period. Finally, MB Generational Wealth LLC bought a new stake in Gossamer Bio during the 3rd quarter valued at $3,721,000. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.