Gossamer Bio (NASDAQ:GOSS) Shares Up 7.4% – Should You Buy?

Gossamer Bio, Inc. (NASDAQ:GOSS)’s share price rose 7.4% during mid-day trading on Friday . The company traded as high as $2.73 and last traded at $2.6950. Approximately 795,310 shares traded hands during trading, a decline of 67% from the average daily volume of 2,438,645 shares. The stock had previously closed at $2.51.

Analyst Upgrades and Downgrades

Several research firms have commented on GOSS. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Wedbush boosted their target price on Gossamer Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Wall Street Zen raised Gossamer Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.50.

Gossamer Bio Trading Up 9.4%

The firm’s fifty day moving average price is $2.62 and its 200-day moving average price is $1.92. The firm has a market cap of $635.36 million, a price-to-earnings ratio of -3.98 and a beta of 1.85.

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, sell-side analysts expect that Gossamer Bio, Inc. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GOSS. Two Sigma Investments LP grew its position in shares of Gossamer Bio by 31.1% during the third quarter. Two Sigma Investments LP now owns 2,287,251 shares of the company’s stock worth $6,015,000 after acquiring an additional 542,124 shares during the last quarter. Silverback Asset Management LLC boosted its stake in Gossamer Bio by 42.9% during the 3rd quarter. Silverback Asset Management LLC now owns 500,000 shares of the company’s stock worth $1,315,000 after purchasing an additional 150,000 shares during the period. Sei Investments Co. purchased a new position in Gossamer Bio during the 3rd quarter worth $161,000. UBS Group AG grew its position in Gossamer Bio by 785.7% during the 3rd quarter. UBS Group AG now owns 2,770,046 shares of the company’s stock worth $7,285,000 after purchasing an additional 2,457,304 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Gossamer Bio by 463.2% in the third quarter. BNP Paribas Financial Markets now owns 96,403 shares of the company’s stock valued at $254,000 after purchasing an additional 79,286 shares during the period. 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.