Gossamer Bio (NASDAQ:GOSS) Lowered to Sell Rating by Wall Street Zen

Gossamer Bio (NASDAQ:GOSS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other analysts have also recently issued reports on GOSS. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Gossamer Bio Price Performance

Shares of Gossamer Bio stock traded down $0.17 during trading on Friday, reaching $2.70. 4,244,828 shares of the stock traded hands, compared to its average volume of 4,228,157. Gossamer Bio has a 52-week low of $0.76 and a 52-week high of $3.87. The business has a fifty day simple moving average of $3.10 and a two-hundred day simple moving average of $2.59. The company has a market capitalization of $624.94 million, a price-to-earnings ratio of -3.91 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last posted its earnings results on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%.The firm had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $6.32 million. On average, research analysts predict that Gossamer Bio will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Gossamer Bio in the 4th quarter worth about $2,024,000. SG Americas Securities LLC raised its position in Gossamer Bio by 249.7% in the 4th quarter. SG Americas Securities LLC now owns 74,129 shares of the company’s stock worth $230,000 after purchasing an additional 52,934 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Gossamer Bio by 24.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,964 shares of the company’s stock worth $74,000 after purchasing an additional 4,767 shares during the period. NorthCrest Asset Manangement LLC bought a new stake in Gossamer Bio in the fourth quarter worth about $36,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Gossamer Bio by 114.9% during the third quarter. JPMorgan Chase & Co. now owns 194,369 shares of the company’s stock valued at $511,000 after buying an additional 103,922 shares during the period. Institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.