Gossamer Bio Sees Unusually Large Options Volume (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS) saw unusually large options trading activity on Wednesday. Stock investors acquired 35,941 call options on the company. This is an increase of 964% compared to the average volume of 3,379 call options.

Institutional Investors Weigh In On Gossamer Bio

Several hedge funds have recently bought and sold shares of the stock. Ciovacco Capital Management LLC acquired a new position in Gossamer Bio in the 3rd quarter valued at $27,000. Brighton Jones LLC bought a new position in shares of Gossamer Bio in the third quarter worth $36,000. Brevan Howard Capital Management LP acquired a new position in Gossamer Bio in the third quarter valued at about $37,000. Mercer Global Advisors Inc. ADV bought a new stake in Gossamer Bio during the third quarter worth about $41,000. Finally, Jones Financial Companies Lllp lifted its position in Gossamer Bio by 136.7% during the third quarter. Jones Financial Companies Lllp now owns 17,360 shares of the company’s stock worth $47,000 after purchasing an additional 10,027 shares during the period. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Gossamer Bio Stock Performance

GOSS traded down $0.15 during trading hours on Wednesday, reaching $2.42. The company’s stock had a trading volume of 5,374,652 shares, compared to its average volume of 4,681,594. The company’s 50-day moving average is $3.06 and its 200-day moving average is $2.49. Gossamer Bio has a 52 week low of $0.76 and a 52 week high of $3.87. The firm has a market cap of $558.98 million, a PE ratio of -3.50 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $13.29 million during the quarter, compared to analyst estimates 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 analysts anticipate that Gossamer Bio will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Gossamer Bio in a report on Thursday, September 11th. Finally, Wall Street Zen raised Gossamer Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Gossamer Bio has an average rating of “Moderate Buy” and a consensus target price of $8.50.

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.