Gossamer Bio (NASDAQ:GOSS) Downgraded to Hold Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Gossamer Bio (NASDAQ:GOSS) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada raised shares of Gossamer Bio to an “outperform” rating in a research report on Tuesday. Barclays lowered shares of Gossamer Bio from an “overweight” rating to an “underweight” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Gossamer Bio in a research report on Thursday, January 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Gossamer Bio in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Gossamer Bio presently has a consensus rating of “Hold” and a consensus price target of $6.67.

Gossamer Bio Stock Down 8.5%

NASDAQ:GOSS opened at $0.38 on Tuesday. Gossamer Bio has a twelve month low of $0.33 and a twelve month high of $3.87. The firm has a market capitalization of $87.98 million, a price-to-earnings ratio of -0.55 and a beta of 1.93. The stock’s 50 day moving average price is $2.54 and its two-hundred day moving average price is $2.65.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GOSS. State Street Corp boosted its position in shares of Gossamer Bio by 139.7% in the fourth quarter. State Street Corp now owns 9,310,969 shares of the company’s stock valued at $28,864,000 after acquiring an additional 5,427,302 shares during the period. Corient Private Wealth LLC increased its position in Gossamer Bio by 19,123.7% during the fourth quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock worth $11,922,000 after acquiring an additional 3,825,879 shares during the period. Millennium Management LLC raised its stake in Gossamer Bio by 629.3% in the 3rd quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock worth $9,519,000 after purchasing an additional 3,123,081 shares in the last quarter. Bank of America Corp DE raised its stake in Gossamer Bio by 4,196.2% in the 3rd quarter. Bank of America Corp DE now owns 2,881,904 shares of the company’s stock worth $7,579,000 after purchasing an additional 2,814,824 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Gossamer Bio by 785.7% in the 3rd quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock valued at $7,285,000 after purchasing an additional 2,457,304 shares during the period. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.