Q1 2024 EPS Estimates for Gossamer Bio, Inc. (NASDAQ:GOSS) Lowered by Analyst

Gossamer Bio, Inc. (NASDAQ:GOSS) – Equities researchers at Leerink Partnrs lowered their Q1 2024 earnings estimates for Gossamer Bio in a research note issued to investors on Monday, May 6th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will earn ($0.25) per share for the quarter, down from their previous forecast of ($0.23). The consensus estimate for Gossamer Bio’s current full-year earnings is ($0.75) per share. Leerink Partnrs also issued estimates for Gossamer Bio’s Q2 2024 earnings at $0.47 EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.32) EPS, FY2024 earnings at ($0.47) EPS, FY2025 earnings at ($1.23) EPS and FY2026 earnings at ($0.86) EPS.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21).

A number of other analysts have also commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Gossamer Bio in a report on Monday. The Goldman Sachs Group decreased their price objective on Gossamer Bio from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Wedbush reissued an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a research note on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 target price on shares of Gossamer Bio in a research report on Wednesday, March 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Gossamer Bio has a consensus rating of “Moderate Buy” and an average target price of $7.65.

Gossamer Bio Price Performance

Gossamer Bio stock opened at $0.76 on Thursday. The business’s 50-day simple moving average is $1.08 and its 200 day simple moving average is $0.93. The company has a quick ratio of 5.94, a current ratio of 5.94 and a debt-to-equity ratio of 3.14. The stock has a market cap of $170.89 million, a price-to-earnings ratio of -0.54 and a beta of 1.84. Gossamer Bio has a 12-month low of $0.45 and a 12-month high of $1.88.

Insiders Place Their Bets

In other news, CEO Faheem Hasnain sold 23,172 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total value of $26,879.52. Following the completion of the transaction, the chief executive officer now owns 120,293 shares in the company, valued at approximately $139,539.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 33,620 shares of company stock valued at $39,682 in the last three months. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at approximately $34,000. Sivia Capital Partners LLC acquired a new position in Gossamer Bio during the first quarter worth $29,000. Octagon Capital Advisors LP raised its position in Gossamer Bio by 12.2% during the fourth quarter. Octagon Capital Advisors LP now owns 9,187,883 shares of the company’s stock worth $8,384,000 after acquiring an additional 1,000,000 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in Gossamer Bio in the fourth quarter valued at $651,000. Finally, Platinum Investment Management Ltd. grew its position in shares of Gossamer Bio by 29.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 6,954,110 shares of the company’s stock valued at $6,346,000 after acquiring an additional 1,596,332 shares during the period. 81.23% of the stock is currently owned by 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.