HC Wainwright Cuts Gossamer Bio (NASDAQ:GOSS) Price Target to $2.00

Gossamer Bio (NASDAQ:GOSS) had its target price dropped by investment analysts at HC Wainwright from $5.00 to $2.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other analysts have also commented on GOSS. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Gossamer Bio in a research note on Monday, March 23rd. Weiss Ratings lowered Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 19th. Finally, Oppenheimer cut their price objective on Gossamer Bio from $12.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Gossamer Bio presently has an average rating of “Hold” and an average price target of $4.50.

Gossamer Bio Stock Performance

NASDAQ GOSS traded up $0.00 during trading on Thursday, reaching $0.17. 4,528,755 shares of the company traded hands, compared to its average volume of 13,593,133. The stock’s 50 day moving average price is $0.27 and its two-hundred day moving average price is $1.31. The company has a market cap of $40.13 million, a price-to-earnings ratio of -0.22 and a beta of 2.00. Gossamer Bio has a 1-year low of $0.14 and a 1-year high of $3.87.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $16.95 million during the quarter, compared to the consensus estimate of $4.67 million. Equities research analysts expect that Gossamer Bio will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in Gossamer Bio by 66.5% during the 1st quarter. Bank of America Corp DE now owns 3,173,725 shares of the company’s stock worth $1,041,000 after acquiring an additional 1,267,056 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in Gossamer Bio by 233.4% in the first quarter. ADAR1 Capital Management LLC now owns 287,531 shares of the company’s stock worth $94,000 after purchasing an additional 503,100 shares in the last quarter. Kalehua Capital Management LLC bought a new stake in shares of Gossamer Bio during the first quarter worth $3,363,000. Renaissance Technologies LLC increased its stake in shares of Gossamer Bio by 84.8% in the first quarter. Renaissance Technologies LLC now owns 1,217,868 shares of the company’s stock valued at $400,000 after buying an additional 558,980 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Gossamer Bio in the first quarter valued at $38,000. 81.23% of the stock is owned by institutional investors and hedge funds.

Gossamer Bio Company Profile

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.