Gossamer Bio (NASDAQ:GOSS) Shares Up 8.8% – Here’s Why

Gossamer Bio, Inc. (NASDAQ:GOSS) shares shot up 8.8% during mid-day trading on Monday . The stock traded as high as $2.56 and last traded at $2.48. 2,703,671 shares changed hands during trading, a decline of 41% from the average session volume of 4,581,135 shares. The stock had previously closed at $2.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Gossamer Bio from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Thursday, January 22nd. Finally, Barclays assumed coverage on Gossamer Bio in a report on Tuesday, January 27th. They set an “overweight” rating and a $9.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gossamer Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.60.

Gossamer Bio Price Performance

The business has a fifty day moving average of $3.04 and a 200 day moving average of $2.64. The stock has a market cap of $586.75 million, a PE ratio of -3.67 and a beta of 1.93.

Gossamer Bio (NASDAQ:GOSS) last announced its 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). Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%. The business had revenue of $13.29 million during the quarter, compared to analyst estimates of $6.32 million. On average, equities research analysts expect that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Gossamer Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Gossamer Bio by 5.2% during the third quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock worth $31,586,000 after purchasing an additional 598,981 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Gossamer Bio by 12.4% during the 2nd quarter. Acadian Asset Management LLC now owns 7,146,022 shares of the company’s stock worth $8,786,000 after buying an additional 787,909 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Gossamer Bio by 100.4% during the 2nd 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 last quarter. Corient Private Wealth LLC grew its position in shares of Gossamer Bio by 8.9% in the 2nd quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company’s stock worth $4,543,000 after acquiring an additional 302,200 shares in the last quarter. Finally, Millennium Management LLC increased its holdings 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 valued at $9,519,000 after acquiring an additional 3,123,081 shares during the last quarter. Institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

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.