Gossamer Bio (NASDAQ:GOSS) Given Buy Rating at HC Wainwright

Gossamer Bio (NASDAQ:GOSS)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports.

Separately, Weiss Ratings downgraded shares of Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.20.

Gossamer Bio Stock Performance

NASDAQ GOSS traded up $0.06 during trading hours on Monday, hitting $0.19. 225,158,015 shares of the company’s stock were exchanged, compared to its average volume of 15,731,231. The business’s 50 day moving average is $0.18 and its 200-day moving average is $0.81. Gossamer Bio has a 12-month low of $0.11 and a 12-month high of $3.87. The firm has a market capitalization of $45.06 million, a P/E ratio of -0.24 and a beta of 2.04.

Gossamer Bio (NASDAQ:GOSS) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $16.95 million during the quarter, compared to the consensus estimate of $4.67 million. As a group, equities research analysts anticipate that Gossamer Bio will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kalehua Capital Management LLC acquired a new position in Gossamer Bio during the first quarter valued at approximately $3,363,000. State Street Corp raised its stake in shares of Gossamer Bio by 139.7% in the 4th quarter. State Street Corp now owns 9,310,969 shares of the company’s stock valued at $28,864,000 after acquiring an additional 5,427,302 shares during the period. Corient Private Wealth LLC raised its stake in shares of Gossamer Bio by 19,123.7% in the 4th quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock valued at $11,922,000 after acquiring an additional 3,825,879 shares during the period. Millennium Management LLC lifted its holdings in shares of Gossamer Bio by 629.3% during the 3rd 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. Finally, Bank of America Corp DE boosted its position in Gossamer Bio by 4,196.2% during the 3rd quarter. Bank of America Corp DE now owns 2,881,904 shares of the company’s stock worth $7,579,000 after purchasing an additional 2,814,824 shares during the period. 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.