Gossamer Bio (NASDAQ:GOSS) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Gossamer Bio (NASDAQ:GOSS) posted its quarterly earnings data on Thursday. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04, FiscalAI reports. The firm had revenue of $9.24 million during the quarter, compared to analysts’ expectations of $3.63 million.

Gossamer Bio Trading Down 4.1%

Shares of NASDAQ GOSS traded down $0.01 during trading hours on Thursday, reaching $0.17. The stock had a trading volume of 11,144,138 shares, compared to its average volume of 18,038,418. The firm has a market cap of $39.97 million, a price-to-earnings ratio of -0.22 and a beta of 2.04. The business’s fifty day moving average price is $0.17 and its two-hundred day moving average price is $0.59. Gossamer Bio has a 52-week low of $0.11 and a 52-week high of $3.87.

Analyst Upgrades and Downgrades

GOSS has been the topic of several recent analyst reports. Weiss Ratings downgraded Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Leerink Partners upgraded Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $1.00 target price on the stock in a research note on Tuesday, July 28th. Finally, HC Wainwright reissued a “buy” rating on shares of Gossamer Bio in a research note on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.20.

Institutional Investors Weigh In On Gossamer Bio

A number of institutional investors and hedge funds have recently bought and sold shares of GOSS. Legal & General Group Plc bought a new position in shares of Gossamer Bio during the 2nd quarter worth $26,000. Banco BTG Pactual S.A. bought a new position in Gossamer Bio during the 2nd quarter worth about $27,000. Beacon Pointe Advisors LLC purchased a new position in Gossamer Bio during the 4th quarter valued at about $34,000. Ieq Capital LLC purchased a new position in Gossamer Bio during the 4th quarter valued at about $35,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Gossamer Bio in the 3rd quarter valued at about $37,000. 81.23% of the stock is owned by institutional investors.

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.