Gossamer Bio (NASDAQ:GOSS) Reaches New 12-Month High – Here’s Why

Gossamer Bio, Inc. (NASDAQ:GOSS)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $3.73 and last traded at $3.7550, with a volume of 697671 shares trading hands. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOSS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Gossamer Bio from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gossamer Bio presently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Gossamer Bio Stock Up 2.8%

The firm has a fifty day simple moving average of $2.71 and a 200-day simple moving average of $2.20. The company has a market cap of $830.48 million, a PE ratio of -5.23 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last issued its quarterly earnings data 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). The firm had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $6.32 million. Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%. Equities research analysts forecast that Gossamer Bio, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

Several large investors have recently modified their holdings of GOSS. Tudor Investment Corp ET AL boosted its stake in shares of Gossamer Bio by 7.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 50,103 shares of the company’s stock worth $132,000 after acquiring an additional 3,639 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Gossamer Bio by 52.7% during the second quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock worth $31,000 after purchasing an additional 8,797 shares during the last quarter. Choreo LLC boosted its position in Gossamer Bio by 11.8% during the third quarter. Choreo LLC now owns 85,111 shares of the company’s stock worth $224,000 after purchasing an additional 9,000 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Gossamer Bio by 136.7% in the third quarter. Jones Financial Companies Lllp now owns 17,360 shares of the company’s stock valued at $47,000 after purchasing an additional 10,027 shares during the last quarter. Finally, Ciovacco Capital Management LLC purchased a new position in shares of Gossamer Bio in the third quarter valued at $27,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

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.