Gossamer Bio (NASDAQ:GOSS) Trading Down 3.6% – Time to Sell?

Gossamer Bio, Inc. (NASDAQ:GOSS)’s stock price traded down 3.6% during mid-day trading on Tuesday . The stock traded as low as $3.09 and last traded at $3.0950. 1,331,118 shares changed hands during trading, a decline of 49% from the average session volume of 2,620,162 shares. The stock had previously closed at $3.21.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOSS. Wall Street Zen upgraded Gossamer Bio from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Gossamer Bio Price Performance

The firm has a market capitalization of $717.53 million, a PE ratio of -4.49 and a beta of 1.92. The company has a fifty day moving average of $3.03 and a 200-day moving average of $2.44.

Gossamer Bio (NASDAQ:GOSS) last issued its earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $6.32 million. Equities analysts anticipate that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Institutional Trading of Gossamer Bio

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Gossamer Bio by 107.2% in the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock worth $77,000 after acquiring an additional 43,866 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $48,000. OMERS ADMINISTRATION Corp bought a new stake in Gossamer Bio in the first quarter worth $387,000. Cubist Systematic Strategies LLC bought a new stake in Gossamer Bio in the first quarter worth $213,000. Finally, Goldman Sachs Group Inc. increased its position in Gossamer Bio by 720.2% during the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock worth $1,034,000 after buying an additional 825,047 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

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.