Gossamer Bio (NASDAQ:GOSS) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Gossamer Bio (NASDAQ:GOSS) posted its quarterly earnings results on Tuesday. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.10), Bloomberg Earnings reports.

GOSS stock traded down $0.04 during midday trading on Thursday, hitting $21.79. 24,839 shares of the company’s stock were exchanged, compared to its average volume of 522,988. The business has a 50-day simple moving average of $18.28 and a two-hundred day simple moving average of $19.44. The company has a current ratio of 17.80, a quick ratio of 17.80 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.50 billion and a PE ratio of -0.96. Gossamer Bio has a 1-year low of $14.49 and a 1-year high of $25.06.

GOSS has been the subject of several recent research reports. Zacks Investment Research cut Gossamer Bio from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Evercore ISI set a $30.00 target price on Gossamer Bio and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine cut Gossamer Bio from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Berenberg Bank started coverage on Gossamer Bio in a research note on Wednesday, October 30th. They set a “buy” rating and a $31.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Gossamer Bio has an average rating of “Buy” and an average price target of $28.50.

In other news, major shareholder Faheem Hasnain purchased 28,700 shares of the stock in a transaction dated Wednesday, September 25th. The stock was acquired at an average cost of $2.51 per share, for a total transaction of $72,037.00. Also, insider Luisa Salter-Cid sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $19.88, for a total value of $994,000.00. The disclosure for this sale can be found here. In the last three months, insiders have acquired 40,821 shares of company stock valued at $275,497 and have sold 450,000 shares valued at $9,668,719. 23.30% of the stock is owned by company insiders.

Gossamer Bio Company Profile

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. It is developing GB001, an oral antagonist of prostaglandin D2 receptor 2 that is in Phase IIb clinical trial for the treatment of moderate-to-severe eosinophilic asthma, as well as that has completed Phase I clinical trial for chronic rhinosinusitis with nasal polyps, without nasal polyps, and chronic spontaneous urticarial; GB002, a platelet-derived growth factor, receptor kinase inhibitor that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension; GB004, an oral small molecule that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases; and GB1275, an oral small molecule for the treatment of oncology indications.

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