Gossamer Bio (NASDAQ:GOSS) Shares Gap Down to $13.60

Shares of Gossamer Bio, Inc. (NASDAQ:GOSSGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $13.60, but opened at $13.29. Gossamer Bio shares last traded at $12.63, with a volume of 29,238 shares trading hands.

Analyst Ratings Changes

GOSS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Gossamer Bio in a report on Wednesday. They issued a “neutral” rating and a $17.00 target price for the company. Raymond James lifted their target price on Gossamer Bio from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, July 14th. Wedbush initiated coverage on Gossamer Bio in a report on Monday. They issued an “outperform” rating and a $24.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Gossamer Bio in a report on Thursday, July 14th. Finally, Barclays lifted their target price on Gossamer Bio from $12.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.10.

Gossamer Bio Stock Down 2.2 %

The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 7.44. The company has a market cap of $1.15 billion, a P/E ratio of -4.04 and a beta of 0.92. The company has a fifty day moving average of $13.20 and a 200 day moving average of $9.85.

Gossamer Bio (NASDAQ:GOSSGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.07). On average, research analysts anticipate that Gossamer Bio, Inc. will post -2.76 earnings per share for the current fiscal year.

Insider Activity at Gossamer Bio

In related news, insider Laura Carter sold 8,808 shares of Gossamer Bio stock in a transaction on Friday, July 1st. The stock was sold at an average price of $8.25, for a total transaction of $72,666.00. Following the transaction, the insider now directly owns 80,234 shares in the company, valued at $661,930.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Gossamer Bio news, CEO Faheem Hasnain acquired 138,696 shares of the stock in a transaction dated Friday, July 15th. The shares were acquired at an average cost of $7.21 per share, for a total transaction of $999,998.16. Following the completion of the transaction, the chief executive officer now directly owns 3,617,325 shares of the company’s stock, valued at $26,080,913.25. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Laura Carter sold 8,808 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $8.25, for a total value of $72,666.00. Following the completion of the transaction, the insider now owns 80,234 shares in the company, valued at $661,930.50. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 159,499 shares of company stock worth $1,149,988. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Gossamer Bio

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in shares of Gossamer Bio in the first quarter valued at about $33,000. Amalgamated Bank purchased a new stake in shares of Gossamer Bio in the first quarter worth about $65,000. Denali Advisors LLC purchased a new stake in shares of Gossamer Bio in the second quarter worth about $75,000. Teacher Retirement System of Texas purchased a new stake in shares of Gossamer Bio in the first quarter worth about $89,000. Finally, Corton Capital Inc. purchased a new stake in shares of Gossamer Bio in the second quarter worth about $91,000. 67.57% of the stock is currently owned by hedge funds and other institutional investors.

About Gossamer Bio

(Get Rating)

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis.

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