Gossamer Bio (NASDAQ:GOSS) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Gossamer Bio (NASDAQ:GOSS) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Gossamer Bio Inc. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutics in the areas of immunology, inflammation and oncology. The company’s product pipeline includes GB001, GB002, GB004, GB1275, Autoimmune program and Oncology program which are in clinical stage. Gossamer Bio Inc. is based in San Diego, California. “

NASDAQ GOSS opened at $19.00 on Wednesday. The business’s 50 day simple moving average is $20.50. Gossamer Bio has a one year low of $15.59 and a one year high of $25.06. The company has a quick ratio of 19.79, a current ratio of 19.79 and a debt-to-equity ratio of 0.02.

Gossamer Bio (NASDAQ:GOSS) last released its earnings results on Tuesday, May 14th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.27). As a group, research analysts predict that Gossamer Bio will post -2.61 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOSS. Omega Fund Management LLC acquired a new stake in Gossamer Bio during the first quarter worth approximately $150,681,000. FMR LLC acquired a new stake in shares of Gossamer Bio in the first quarter valued at about $26,576,000. Victory Capital Management Inc. acquired a new stake in shares of Gossamer Bio in the first quarter valued at about $18,649,000. Federated Investors Inc. PA acquired a new stake in shares of Gossamer Bio in the first quarter valued at about $15,992,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Gossamer Bio in the first quarter valued at about $9,523,000. 52.76% of the stock is owned by institutional investors and hedge funds.

About Gossamer Bio

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.

Featured Story: How does inflation affect different investments?

Get a free copy of the Zacks research report on Gossamer Bio (GOSS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Gossamer Bio (NASDAQ:GOSS)

Receive News & Ratings for Gossamer Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gossamer Bio and related companies with MarketBeat.com's FREE daily email newsletter.