Gossamer Bio (NASDAQ:GOSS) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Gossamer Bio (NASDAQ:GOSS) released its earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02), Zacks reports. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%.The business had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $6.32 million.

Gossamer Bio Stock Performance

Gossamer Bio stock traded up $0.10 during trading on Friday, reaching $2.41. 1,543,219 shares of the company’s stock were exchanged, compared to its average volume of 2,432,933. Gossamer Bio has a 52-week low of $0.66 and a 52-week high of $3.60. The firm has a market cap of $546.85 million, a price-to-earnings ratio of -3.47 and a beta of 1.85. The company’s 50-day moving average is $2.61 and its two-hundred day moving average is $1.86.

Wall Street Analyst Weigh In

GOSS has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Scotiabank initiated coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They set a “sector outperform” rating and a $11.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Finally, Wedbush increased their target price on Gossamer Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gossamer Bio has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Institutional Investors Weigh In On Gossamer Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Gossamer Bio by 100.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock valued at $5,604,000 after buying an additional 2,282,632 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Gossamer Bio by 720.2% during the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after purchasing an additional 825,047 shares during the period. Focus Partners Wealth acquired a new position in shares of Gossamer Bio during the first quarter worth $770,000. Jane Street Group LLC lifted its position in shares of Gossamer Bio by 5,250.1% during the first quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock worth $752,000 after purchasing an additional 670,649 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Gossamer Bio by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock valued at $31,586,000 after purchasing an additional 598,981 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.