Gossamer Bio’s (GOSS) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Gossamer Bio (NASDAQ:GOSS) in a research note issued to investors on Wednesday morning, Benzinga reports. Wedbush currently has a $4.00 target price on the stock. Wedbush also issued estimates for Gossamer Bio’s Q2 2024 earnings at $0.51 EPS, FY2024 earnings at ($0.10) EPS, FY2027 earnings at ($0.69) EPS and FY2028 earnings at ($0.51) EPS.

GOSS has been the subject of a number of other reports. HC Wainwright restated a buy rating and issued a $10.00 price objective on shares of Gossamer Bio in a research report on Monday. Piper Sandler reiterated an overweight rating and issued a $15.00 price objective on shares of Gossamer Bio in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group reduced their target price on Gossamer Bio from $9.00 to $8.00 and set a buy rating for the company in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Gossamer Bio presently has a consensus rating of Moderate Buy and an average target price of $7.65.

Gossamer Bio Stock Performance

GOSS traded down $0.02 on Wednesday, hitting $0.74. The company’s stock had a trading volume of 542,420 shares, compared to its average volume of 1,356,408. The company’s 50 day simple moving average is $1.08 and its 200-day simple moving average is $0.93. The company has a quick ratio of 5.94, a current ratio of 5.94 and a debt-to-equity ratio of 3.14. Gossamer Bio has a 12 month low of $0.45 and a 12 month high of $1.88. The firm has a market cap of $166.48 million, a P/E ratio of -0.54 and a beta of 1.84.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.21). Analysts forecast that Gossamer Bio will post -0.75 EPS for the current year.

Insider Activity

In other Gossamer Bio news, CEO Faheem Hasnain sold 23,172 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total value of $26,879.52. Following the completion of the sale, the chief executive officer now owns 120,293 shares of the company’s stock, valued at $139,539.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 33,620 shares of company stock worth $39,682. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sivia Capital Partners LLC purchased a new position in Gossamer Bio in the 1st quarter worth approximately $29,000. SG Americas Securities LLC bought a new stake in Gossamer Bio during the 1st quarter valued at $34,000. Financial Advocates Investment Management purchased a new stake in Gossamer Bio during the 3rd quarter valued at $61,000. Bank of New York Mellon Corp grew its holdings in Gossamer Bio by 178.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 91,246 shares of the company’s stock worth $76,000 after acquiring an additional 58,428 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Gossamer Bio by 9,916.9% in the third quarter. Citigroup Inc. now owns 196,732 shares of the company’s stock valued at $164,000 after acquiring an additional 194,768 shares during the period. 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.