Chardan Capital Initiates Coverage on Gossamer Bio (NASDAQ:GOSS)

Equities researchers at Chardan Capital began coverage on shares of Gossamer Bio (NASDAQ:GOSS) in a report released on Tuesday, Marketbeat reports. The brokerage set a “buy” rating on the stock.

Several other analysts have also recently weighed in on GOSS. HC Wainwright restated a “buy” rating on shares of Gossamer Bio in a research report on Thursday, August 27th. Wall Street Zen cut shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Leerink Partners upgraded shares of Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Gossamer Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $256.00.

Gossamer Bio Price Performance

NASDAQ:GOSS traded down $0.12 during trading hours on Tuesday, hitting $8.77. The stock had a trading volume of 171,133 shares, compared to its average volume of 242,411. The company has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $16.95. Gossamer Bio has a one year low of $8.51 and a one year high of $309.60. The firm has a market capitalization of $53.58 million, a price-to-earnings ratio of -0.16 and a beta of 2.21.

Hedge Funds Weigh In On Gossamer Bio

Large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP raised its position in Gossamer Bio by 41.3% in the 2nd quarter. Corient Private Wealth LP now owns 5,632,698 shares of the company’s stock worth $927,000 after purchasing an additional 1,647,315 shares during the period. Bank of America Corp DE purchased a new position in Gossamer Bio in the 2nd quarter worth $65,000. Hsbc Holdings PLC increased its position in shares of Gossamer Bio by 1,289.4% in the second quarter. Hsbc Holdings PLC now owns 1,583,118 shares of the company’s stock valued at $267,000 after acquiring an additional 1,469,175 shares during the period. Kalehua Capital Management LLC purchased a new position in shares of Gossamer Bio in the first quarter valued at about $3,363,000. Finally, BlackRock Inc. purchased a new position in shares of Gossamer Bio in the second quarter valued at about $1,262,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with disorders involving the immune system, inflammation and fibrosis. The company is headquartered in San Diego, California, and primarily operates through the development of its proprietary drug candidates and strategic collaborations.

Gossamer’s lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways associated with pulmonary vascular remodeling.