Oppenheimer Issues Pessimistic Forecast for Gossamer Bio (NASDAQ:GOSS) Stock Price

Gossamer Bio (NASDAQ:GOSS) had its price target dropped by research analysts at Oppenheimer from $12.00 to $3.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 499.16% from the stock’s current price.

A number of other research analysts have also weighed in on GOSS. Leerink Partners lowered shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a report on Thursday, January 22nd. The Goldman Sachs Group cut shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Barclays lowered shares of Gossamer Bio from an “overweight” rating to an “underweight” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.43.

Gossamer Bio Stock Performance

Shares of GOSS opened at $0.50 on Thursday. The stock has a 50 day simple moving average of $2.12 and a 200 day simple moving average of $2.57. Gossamer Bio has a 52-week low of $0.33 and a 52-week high of $3.87. The firm has a market capitalization of $115.89 million, a PE ratio of -0.73 and a beta of 2.08.

Institutional Trading of Gossamer Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 43,866 shares in the last quarter. Invesco Ltd. acquired a new position in Gossamer Bio during the first quarter worth $48,000. Cubist Systematic Strategies LLC bought a new position in Gossamer Bio in the first quarter valued at $213,000. Goldman Sachs Group Inc. grew its position in Gossamer Bio by 720.2% in the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after purchasing an additional 825,047 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Gossamer Bio by 5,250.1% in the 1st quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock valued at $752,000 after buying an additional 670,649 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.