Gossamer Bio (NASDAQ:GOSS – Get Rating) had its target price dropped by equities research analysts at UBS Group from $19.00 to $8.00 in a report released on Wednesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 272.09% from the stock’s previous close.
Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Gossamer Bio from a “neutral” rating to an “underweight” rating in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of Gossamer Bio in a report on Thursday, October 20th. They issued a “buy” rating and a $22.00 target price for the company. Raymond James reduced their target price on shares of Gossamer Bio from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, November 17th. HC Wainwright increased their target price on shares of Gossamer Bio from $20.00 to $25.00 in a report on Thursday, October 13th. Finally, SVB Leerink reduced their target price on shares of Gossamer Bio from $15.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Gossamer Bio currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.
Gossamer Bio Price Performance
GOSS opened at $2.15 on Wednesday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 5.93 and a current ratio of 5.93. The stock has a market capitalization of $203.13 million, a P/E ratio of -0.74 and a beta of 0.80. The company’s 50-day simple moving average is $10.16 and its two-hundred day simple moving average is $10.55. Gossamer Bio has a 52-week low of $1.73 and a 52-week high of $15.19.
In related news, insider Laura Carter sold 4,876 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $12.07, for a total value of $58,853.32. Following the completion of the sale, the insider now directly owns 82,292 shares in the company, valued at $993,264.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Gossamer Bio news, insider Laura Carter sold 4,876 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $12.07, for a total value of $58,853.32. Following the sale, the insider now owns 82,292 shares in the company, valued at $993,264.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Caryn Peterson sold 4,757 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $12.07, for a total value of $57,416.99. Following the completion of the sale, the executive vice president now owns 61,415 shares in the company, valued at approximately $741,279.05. The disclosure for this sale can be found here. Corporate insiders own 8.30% of the company’s stock.
Institutional Trading of Gossamer Bio
Hedge funds and other institutional investors have recently bought and sold shares of the business. Denali Advisors LLC purchased a new stake in Gossamer Bio in the second quarter worth $75,000. Martingale Asset Management L P increased its stake in shares of Gossamer Bio by 39.7% during the second quarter. Martingale Asset Management L P now owns 50,027 shares of the company’s stock valued at $420,000 after buying an additional 14,215 shares during the period. Amalgamated Bank purchased a new position in shares of Gossamer Bio during the first quarter valued at $65,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Gossamer Bio during the second quarter valued at $163,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Gossamer Bio by 67.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 27,110 shares of the company’s stock valued at $226,000 after buying an additional 10,908 shares during the period. Hedge funds and other institutional investors own 67.57% of the company’s stock.
About Gossamer Bio
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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