Oppenheimer Lowers Gossamer Bio (NASDAQ:GOSS) Price Target to $3.00

Gossamer Bio (NASDAQ:GOSS) had its price target dropped by Oppenheimer from $12.00 to $3.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 481.28% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Royal Bank Of Canada upgraded shares of Gossamer Bio to an “outperform” rating in a report on Tuesday, February 24th. Wall Street Zen cut shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Leerink Partners downgraded shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Barclays cut Gossamer Bio from an “overweight” rating to an “underweight” rating in a research note on Tuesday, February 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Gossamer Bio in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.14.

Gossamer Bio Stock Performance

Shares of GOSS traded down $0.06 during midday trading on Thursday, hitting $0.52. The company had a trading volume of 15,854,670 shares, compared to its average volume of 17,156,555. Gossamer Bio has a 1 year low of $0.33 and a 1 year high of $3.87. The firm has a market capitalization of $119.46 million, a P/E ratio of -0.75 and a beta of 2.08. The company’s 50-day simple moving average is $2.23 and its 200-day simple moving average is $2.60.

Institutional Investors Weigh In On Gossamer Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Gossamer Bio by 107.2% during 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 during the period. Invesco Ltd. acquired a new stake in Gossamer Bio in the first quarter valued at about $48,000. Cubist Systematic Strategies LLC purchased a new stake in Gossamer Bio in the 1st quarter valued at approximately $213,000. Goldman Sachs Group Inc. increased its position in Gossamer Bio by 720.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock worth $1,034,000 after purchasing an additional 825,047 shares during the period. Finally, Jane Street Group LLC increased its position in Gossamer Bio by 5,250.1% during the 1st quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock worth $752,000 after purchasing an additional 670,649 shares during the period. Hedge funds and other institutional investors own 81.23% of the company’s stock.

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.