Gossamer Bio (NASDAQ:GOSS) Announces Quarterly Earnings Results

Gossamer Bio (NASDAQ:GOSS) issued its quarterly earnings results on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), FiscalAI reports. The company had revenue of $13.80 million for the quarter, compared to analyst estimates of $7.53 million. Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%.

Gossamer Bio Price Performance

NASDAQ:GOSS opened at $0.46 on Wednesday. The company has a 50 day moving average price of $1.77 and a 200-day moving average price of $2.49. Gossamer Bio has a 1-year low of $0.33 and a 1-year high of $3.87. The firm has a market cap of $106.70 million, a price-to-earnings ratio of -0.67 and a beta of 2.09.

Institutional Trading of Gossamer Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOSS. Bank of America Corp DE raised 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 acquiring an additional 43,866 shares during the period. Invesco Ltd. acquired a new stake in shares of Gossamer Bio during the 1st quarter valued at about $48,000. Cubist Systematic Strategies LLC purchased a new position in shares of Gossamer Bio in the 1st quarter valued at about $213,000. Goldman Sachs Group Inc. raised its holdings in Gossamer Bio by 720.2% in 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 raised its holdings 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 worth $752,000 after purchasing an additional 670,649 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GOSS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Gossamer Bio from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Wedbush restated a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Gossamer Bio in a research note on Tuesday, February 24th. Barclays downgraded shares of Gossamer Bio from an “overweight” rating to an “underweight” rating in a report on Tuesday, February 24th. Finally, HC Wainwright reduced their target price on shares of Gossamer Bio from $10.00 to $5.00 and set a “buy” rating for the company in a report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.43.

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.