Gossamer Bio (NASDAQ:GOSS) Sets New 12-Month High – Should You Buy?

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) reached a new 52-week high on Thursday . The company traded as high as $3.73 and last traded at $3.7550, with a volume of 697671 shares. The stock had previously closed at $3.49.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOSS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a report on Thursday, September 11th. Wall Street Zen raised Gossamer Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Gossamer Bio Price Performance

The business’s 50 day simple moving average is $2.75 and its 200 day simple moving average is $2.23. The company has a market capitalization of $833.24 million, a price-to-earnings ratio of -5.22 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $6.32 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%. As a group, analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL raised its holdings in shares of Gossamer Bio by 7.8% in the third quarter. Tudor Investment Corp ET AL now owns 50,103 shares of the company’s stock worth $132,000 after acquiring an additional 3,639 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in Gossamer Bio by 52.7% in the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock valued at $31,000 after purchasing an additional 8,797 shares in the last quarter. Choreo LLC boosted its stake in shares of Gossamer Bio by 11.8% during the 3rd quarter. Choreo LLC now owns 85,111 shares of the company’s stock worth $224,000 after purchasing an additional 9,000 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Gossamer Bio by 136.7% during the third quarter. Jones Financial Companies Lllp now owns 17,360 shares of the company’s stock worth $47,000 after acquiring an additional 10,027 shares during the last quarter. Finally, Ciovacco Capital Management LLC acquired a new stake in Gossamer Bio during the third quarter worth approximately $27,000. 81.23% of the stock is owned by hedge funds and other institutional investors.

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.