Gossamer Bio (NASDAQ:GOSS) Releases Quarterly Earnings Results, Hits Expectations

Gossamer Bio (NASDAQ:GOSS) released its quarterly earnings data on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15), Zacks reports.

Gossamer Bio Stock Down 3.0 %

NASDAQ:GOSS traded down $0.04 during trading hours on Thursday, reaching $1.30. The company’s stock had a trading volume of 1,396,287 shares, compared to its average volume of 1,435,119. The company has a market capitalization of $294.59 million, a P/E ratio of -4.06 and a beta of 1.86. Gossamer Bio has a 12 month low of $0.50 and a 12 month high of $1.55. The company has a debt-to-equity ratio of 3.64, a quick ratio of 6.74 and a current ratio of 6.74. The stock has a 50 day moving average price of $1.12 and a two-hundred day moving average price of $0.96.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Gossamer Bio in a report on Thursday, January 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Gossamer Bio presently has an average rating of “Buy” and a consensus price target of $9.20.

Hedge Funds Weigh In On Gossamer Bio

An institutional investor recently raised its position in Gossamer Bio stock. Bank of America Corp DE lifted its stake in shares of Gossamer Bio, Inc. (NASDAQ:GOSS) by 107.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,788 shares of the company’s stock after buying an additional 43,866 shares during the period. Bank of America Corp DE’s holdings in Gossamer Bio were worth $77,000 at the end of the most recent quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

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.