Platinum Investment Management Ltd. Sells 344,613 Shares of Gossamer Bio, Inc. (NASDAQ:GOSS)

Platinum Investment Management Ltd. trimmed its position in shares of Gossamer Bio, Inc. (NASDAQ:GOSS) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,180,295 shares of the company’s stock after selling 344,613 shares during the quarter. Platinum Investment Management Ltd. owned 1.40% of Gossamer Bio worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of GOSS. US Bancorp DE purchased a new position in shares of Gossamer Bio in the 3rd quarter worth about $39,000. GSA Capital Partners LLP bought a new stake in shares of Gossamer Bio during the third quarter valued at about $67,000. The Manufacturers Life Insurance Company increased its position in shares of Gossamer Bio by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 385,133 shares of the company’s stock valued at $380,000 after buying an additional 74,920 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Gossamer Bio by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,241,979 shares of the company’s stock worth $1,123,000 after purchasing an additional 13,902 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Gossamer Bio by 30.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,887,512 shares of the company’s stock worth $1,862,000 after purchasing an additional 442,895 shares during the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

Gossamer Bio Price Performance

GOSS opened at $1.42 on Wednesday. Gossamer Bio, Inc. has a 52-week low of $0.50 and a 52-week high of $1.55. The stock has a market cap of $321.78 million, a P/E ratio of -4.44 and a beta of 1.86. The business has a fifty day moving average of $1.14 and a 200 day moving average of $0.97. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 3.64.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The firm had revenue of $9.38 million during the quarter, compared to analysts’ expectations of $7.02 million. As a group, sell-side analysts anticipate that Gossamer Bio, Inc. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a research note on Friday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Gossamer Bio in a report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $9.20.

Gossamer Bio Company Profile

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.