Gossamer Bio (NASDAQ:GOSS) Shares Down 6.5% – Time to Sell?

Gossamer Bio, Inc. (NASDAQ:GOSS) was down 6.5% during trading on Tuesday . The stock traded as low as $3.55 and last traded at $3.5450. Approximately 3,451,341 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 2,519,599 shares. The stock had previously closed at $3.79.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOSS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Wall Street Zen upgraded shares of Gossamer Bio from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Gossamer Bio Stock Down 3.9%

The firm’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $2.30. The firm has a market capitalization of $793.91 million, a PE ratio of -4.97 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $6.32 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 354.50%. On average, sell-side analysts anticipate that Gossamer Bio, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Gossamer Bio by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock worth $31,586,000 after purchasing an additional 598,981 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Gossamer Bio by 12.4% during the second quarter. Acadian Asset Management LLC now owns 7,146,022 shares of the company’s stock worth $8,786,000 after buying an additional 787,909 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Gossamer Bio by 100.4% in the second quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock worth $5,604,000 after buying an additional 2,282,632 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Gossamer Bio by 8.9% in the second quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company’s stock worth $4,543,000 after buying an additional 302,200 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Gossamer Bio by 629.3% in the third quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock valued at $9,519,000 after acquiring an additional 3,123,081 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing seralutinib for the treatment of pulmonary arterial hypertension (PAH) in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colony-stimulatin factor 1 receptor and c-KIT inhibitor, which is in Phase 3 clinical trial for the treatment of PAH.