Gossamer Bio (NASDAQ:GOSS) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Gossamer Bio (NASDAQ:GOSS) from a sell rating to a hold rating in a research report released on Saturday.

GOSS has been the subject of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Wedbush increased their price target on shares of Gossamer Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Finally, Scotiabank assumed coverage on Gossamer Bio in a report on Monday, July 14th. They issued a “sector outperform” rating and a $11.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Gossamer Bio Trading Up 2.2%

Shares of NASDAQ GOSS traded up $0.05 during mid-day trading on Friday, reaching $2.36. The company had a trading volume of 2,091,470 shares, compared to its average volume of 2,931,855. The firm has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $1.88. The stock has a market cap of $546.25 million, a P/E ratio of -3.42 and a beta of 1.85. Gossamer Bio has a 52-week low of $0.66 and a 52-week high of $3.60.

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

Hedge Funds Weigh In On Gossamer Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in Gossamer Bio in the second quarter valued at about $26,000. Ciovacco Capital Management LLC acquired a new stake in Gossamer Bio in the third quarter valued at approximately $27,000. Banco BTG Pactual S.A. acquired a new position in shares of Gossamer Bio during the second quarter worth $27,000. Drive Wealth Management LLC boosted its stake in shares of Gossamer Bio by 52.7% in the second quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock valued at $31,000 after purchasing an additional 8,797 shares during the period. Finally, Brighton Jones LLC acquired a new stake in Gossamer Bio during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.