Gossamer Bio, Inc. (NASDAQ:GOSS) Short Interest Update

Gossamer Bio, Inc. (NASDAQ:GOSS) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 948,623 shares, a decrease of 98.9% from the August 31st total of 82,633,317 shares. Based on an average daily trading volume, of 186,993 shares, the short-interest ratio is currently 5.1 days. Approximately 33.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GOSS. Corient Private Wealth LP raised its stake in shares of Gossamer Bio by 41.3% during the 2nd quarter. Corient Private Wealth LP now owns 5,632,698 shares of the company’s stock worth $927,000 after buying an additional 1,647,315 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Gossamer Bio by 1,289.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,583,118 shares of the company’s stock valued at $267,000 after acquiring an additional 1,469,175 shares in the last quarter. Bank of America Corp DE purchased a new position in Gossamer Bio during the 2nd quarter valued at about $65,000. Hhlr Advisors LTD. acquired a new position in Gossamer Bio during the second quarter worth about $819,000. Finally, ARCH Venture Management LLC purchased a new stake in shares of Gossamer Bio in the second quarter valued at about $1,326,004. Hedge funds and other institutional investors own 81.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. HC Wainwright restated a “buy” rating on shares of Gossamer Bio in a research note on Thursday, August 27th. Weiss Ratings lowered Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Finally, Leerink Partners upgraded Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $256.00.

Gossamer Bio Stock Performance

Gossamer Bio stock traded up $0.01 during trading hours on Friday, reaching $10.94. 426,559 shares of the stock were exchanged, compared to its average volume of 217,387. The stock has a market cap of $66.85 million, a P/E ratio of -0.20 and a beta of 2.00. Gossamer Bio has a 52-week low of $9.10 and a 52-week high of $309.60. The firm’s 50 day moving average is $12.97 and its 200 day moving average is $19.47.

Gossamer Bio Company Profile

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for pulmonary and inflammatory diseases. The company’s research is centered on therapeutic areas with significant unmet medical needs, including pulmonary hypertension and other immune-mediated conditions.

Gossamer Bio’s lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways associated with pulmonary arterial hypertension and pulmonary vascular remodeling.