Gossamer Bio (NASDAQ:GOSS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Gossamer Bio (NASDAQ:GOSSGet Rating) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Gossamer Bio Inc. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutics in the areas of immunology, inflammation and oncology. The company’s product pipeline includes GB001, GB002, GB004, GB1275, Autoimmune program and Oncology program which are in clinical stage. Gossamer Bio Inc. is based in San Diego, California. “

GOSS has been the subject of a number of other reports. Barclays cut their price objective on Gossamer Bio from $18.00 to $12.00 and set an overweight rating for the company in a research report on Tuesday, April 26th. Piper Sandler dropped their price target on Gossamer Bio from $26.00 to $15.00 in a research report on Monday, April 25th. Cantor Fitzgerald reiterated an overweight rating on shares of Gossamer Bio in a research report on Monday, May 9th. Raymond James dropped their price target on Gossamer Bio from $19.00 to $10.00 and set an outperform rating for the company in a research report on Tuesday, April 26th. Finally, UBS Group assumed coverage on Gossamer Bio in a research report on Wednesday, April 6th. They set a buy rating and a $19.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $16.47.

Shares of GOSS opened at $7.60 on Wednesday. The company has a market cap of $586.09 million, a PE ratio of -2.45 and a beta of 1.12. Gossamer Bio has a 52-week low of $6.28 and a 52-week high of $14.30. The business has a fifty day moving average of $8.27 and a 200 day moving average of $9.59. The company has a quick ratio of 8.12, a current ratio of 8.12 and a debt-to-equity ratio of 7.44.

Gossamer Bio (NASDAQ:GOSSGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.01. As a group, research analysts anticipate that Gossamer Bio will post -2.73 earnings per share for the current fiscal year.

In other Gossamer Bio news, EVP Caryn Peterson sold 6,279 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $8.28, for a total value of $51,990.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura Carter sold 5,002 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $8.28, for a total value of $41,416.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,300 shares of company stock valued at $367,628. 23.30% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Walleye Capital LLC lifted its stake in shares of Gossamer Bio by 39.2% in the 1st quarter. Walleye Capital LLC now owns 252,825 shares of the company’s stock valued at $2,195,000 after purchasing an additional 71,201 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Gossamer Bio by 13.3% in the 1st quarter. Jane Street Group LLC now owns 31,691 shares of the company’s stock valued at $275,000 after purchasing an additional 3,726 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Gossamer Bio in the 1st quarter valued at $1,429,000. Point72 Hong Kong Ltd acquired a new position in shares of Gossamer Bio in the 1st quarter valued at $33,000. Finally, Quantbot Technologies LP lifted its stake in shares of Gossamer Bio by 11.3% in the 1st quarter. Quantbot Technologies LP now owns 13,801 shares of the company’s stock valued at $119,000 after purchasing an additional 1,401 shares during the last quarter. 76.90% of the stock is currently owned by institutional investors and hedge funds.

Gossamer Bio Company Profile (Get Rating)

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. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis.

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