BidaskClub Downgrades Gossamer Bio (NASDAQ:GOSS) to Hold

Gossamer Bio (NASDAQ:GOSS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

A number of other research analysts have also recently issued reports on the company. HC Wainwright started coverage on Gossamer Bio in a report on Monday, June 29th. They issued a “buy” rating and a $31.00 price target for the company. Cantor Fitzgerald boosted their target price on Gossamer Bio from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. SVB Leerink boosted their target price on Gossamer Bio from $27.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Zacks Investment Research upgraded Gossamer Bio from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, July 21st. Finally, Piper Sandler initiated coverage on Gossamer Bio in a report on Wednesday, April 22nd. They set an “overweight” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.89.

GOSS stock traded down $0.70 during midday trading on Friday, hitting $11.92. 606,545 shares of the company traded hands, compared to its average volume of 571,803. Gossamer Bio has a twelve month low of $7.52 and a twelve month high of $27.15. The company has a quick ratio of 12.53, a current ratio of 12.53 and a debt-to-equity ratio of 0.12. The business has a 50 day simple moving average of $13.02 and a 200-day simple moving average of $12.83. The stock has a market capitalization of $790.99 million, a price-to-earnings ratio of -3.61 and a beta of 1.15.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.07). Equities research analysts forecast that Gossamer Bio will post -3.32 EPS for the current year.

In other news, CFO Bryan Giraudo bought 2,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $12.96 per share, for a total transaction of $25,920.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in shares of Gossamer Bio by 5.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,836,375 shares of the company’s stock worth $18,639,000 after purchasing an additional 95,370 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Gossamer Bio during the 1st quarter worth approximately $279,000. State Street Corp raised its stake in shares of Gossamer Bio by 0.8% during the 1st quarter. State Street Corp now owns 1,658,898 shares of the company’s stock worth $16,838,000 after purchasing an additional 13,649 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Gossamer Bio by 74.7% during the 1st quarter. Wells Fargo & Company MN now owns 42,397 shares of the company’s stock worth $430,000 after purchasing an additional 18,124 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Gossamer Bio by 5.3% during the 1st quarter. Rhumbline Advisers now owns 60,309 shares of the company’s stock worth $612,000 after purchasing an additional 3,030 shares in the last quarter. Institutional investors own 58.13% of the company’s stock.

Gossamer Bio Company Profile

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. It is developing GB001, an oral antagonist of prostaglandin D2 receptor 2 that is in Phase IIb clinical trial for the treatment of moderate-to-severe eosinophilic asthma, as well as that has completed Phase I clinical trial for chronic rhinosinusitis with nasal polyps, without nasal polyps, and chronic spontaneous urticarial; GB002, a platelet-derived growth factor, receptor kinase inhibitor that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension; GB004, an oral small molecule that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases; and GB1275, an oral small molecule for the treatment of oncology indications.

Further Reading: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Gossamer Bio (NASDAQ:GOSS)

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