Wedbush Comments on Gossamer Bio, Inc.’s Q2 2024 Earnings (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS) – Wedbush lifted their Q2 2024 EPS estimates for Gossamer Bio in a research report issued on Monday, May 6th. Wedbush analyst L. Chico now anticipates that the company will earn $0.51 per share for the quarter, up from their previous estimate of ($0.20). Wedbush has a “Outperform” rating and a $4.00 price target on the stock. The consensus estimate for Gossamer Bio’s current full-year earnings is ($0.75) per share. Wedbush also issued estimates for Gossamer Bio’s FY2024 earnings at ($0.10) EPS, FY2027 earnings at ($0.69) EPS and FY2028 earnings at ($0.51) EPS.

Several other equities research analysts also recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Gossamer Bio in a report on Wednesday, March 27th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Gossamer Bio in a report on Monday. Finally, The Goldman Sachs Group lowered their target price on shares of Gossamer Bio from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.65.

Gossamer Bio Stock Performance

Shares of GOSS opened at $0.76 on Thursday. The company has a debt-to-equity ratio of 3.14, a current ratio of 5.94 and a quick ratio of 5.94. The firm has a market cap of $170.89 million, a PE ratio of -0.54 and a beta of 1.84. Gossamer Bio has a 1 year low of $0.45 and a 1 year high of $1.88. The stock’s fifty day moving average price is $1.08 and its two-hundred day moving average price is $0.93.

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

Institutional Trading of Gossamer Bio

A number of hedge funds have recently made changes to their positions in GOSS. Octagon Capital Advisors LP boosted its stake in shares of Gossamer Bio by 12.2% during the fourth quarter. Octagon Capital Advisors LP now owns 9,187,883 shares of the company’s stock valued at $8,384,000 after purchasing an additional 1,000,000 shares during the period. ARCH Venture Management LLC purchased a new position in shares of Gossamer Bio during the third quarter valued at approximately $6,709,000. Platinum Investment Management Ltd. raised its holdings in shares of Gossamer Bio by 29.8% during the fourth 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 in the last quarter. Palo Alto Investors LP raised its holdings in Gossamer Bio by 88.5% in the 3rd quarter. Palo Alto Investors LP now owns 6,530,288 shares of the company’s stock worth $5,438,000 after purchasing an additional 3,065,136 shares in the last quarter. Finally, Silverarc Capital Management LLC bought a new position in Gossamer Bio in the third quarter worth about $5,105,000. 81.23% of the stock is owned by institutional investors.

Insider Activity at Gossamer Bio

In other Gossamer Bio 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 sale, the chief executive officer now owns 120,293 shares of the company’s stock, valued at approximately $139,539.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 33,620 shares of company stock valued at $39,682. Corporate insiders own 5.00% of the company’s stock.

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.