Gossamer Bio (NASDAQ:GOSS) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Gossamer Bio (NASDAQ:GOSS) in a research report sent to investors on Wednesday, Benzinga reports. Wedbush currently has a $4.00 price objective 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.

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

Gossamer Bio Stock Down 2.6 %

Shares of NASDAQ GOSS traded down $0.02 during midday trading on Wednesday, reaching $0.74. The company’s stock had a trading volume of 542,420 shares, compared to its average volume of 1,356,408. The stock has a market capitalization of $166.48 million, a price-to-earnings ratio of -0.54 and a beta of 1.84. Gossamer Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.88. The stock has a 50 day simple moving average of $1.08 and a 200-day simple moving average of $0.93. The company has a current ratio of 5.94, a quick ratio of 5.94 and a debt-to-equity ratio of 3.14.

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

Insider Transactions at Gossamer Bio

In other Gossamer Bio news, CEO Faheem Hasnain sold 23,172 shares of Gossamer Bio stock in a transaction dated Wednesday, March 27th. The shares were 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 in the company, valued at approximately $139,539.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 33,620 shares of company stock valued at $39,682. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Gossamer Bio

Large investors have recently modified their holdings of the stock. Sivia Capital Partners LLC acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $29,000. Financial Advocates Investment Management grew its position in Gossamer Bio by 35.0% in the fourth quarter. Financial Advocates Investment Management now owns 98,350 shares of the company’s stock valued at $90,000 after acquiring an additional 25,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in Gossamer Bio during the first quarter worth about $34,000. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $76,000 after purchasing an additional 58,428 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Gossamer Bio by 9,916.9% during the 3rd quarter. Citigroup Inc. now owns 196,732 shares of the company’s stock valued at $164,000 after purchasing an additional 194,768 shares during the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.

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.