Gossamer Bio (NASDAQ:GOSS) Announces Earnings Results

Gossamer Bio (NASDAQ:GOSS) released its earnings results on Thursday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04, FiscalAI reports. The business had revenue of $9.24 million for the quarter, compared to analyst estimates of $3.63 million.

Gossamer Bio Stock Down 9.5%

Shares of NASDAQ GOSS opened at $0.15 on Friday. Gossamer Bio has a twelve month low of $0.11 and a twelve month high of $3.87. The stock has a market cap of $36.19 million, a price-to-earnings ratio of -0.22 and a beta of 2.04. The company’s fifty day moving average is $0.17 and its 200-day moving average is $0.57.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOSS. Leerink Partners upgraded Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $1.00 price objective for the company in a report on Tuesday, July 28th. Weiss Ratings cut Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Finally, HC Wainwright restated a “buy” rating on shares of Gossamer Bio in a research report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.20.

Institutional Trading of Gossamer Bio

Several hedge funds have recently added to or reduced their stakes in GOSS. Beacon Pointe Advisors LLC bought a new position in Gossamer Bio during the fourth quarter worth about $34,000. Ieq Capital LLC acquired a new stake in shares of Gossamer Bio during the fourth quarter worth about $35,000. Janney Montgomery Scott LLC acquired a new stake in shares of Gossamer Bio during the fourth quarter worth about $39,000. Cibc World Markets Corp bought a new position in shares of Gossamer Bio during the 4th quarter valued at about $39,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Gossamer Bio in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds 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.