Rock Springs Capital Management LP Sells 11,230,468 Shares of Gossamer Bio, Inc. $GOSS

Rock Springs Capital Management LP lessened its stake in Gossamer Bio, Inc. (NASDAQ:GOSS) by 87.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,609,492 shares of the company’s stock after selling 11,230,468 shares during the quarter. Rock Springs Capital Management LP owned approximately 0.69% of Gossamer Bio worth $529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Gossamer Bio by 5.2% during the third quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock valued at $31,586,000 after acquiring an additional 598,981 shares in the last quarter. Kalehua Capital Management LLC purchased a new stake in Gossamer Bio in the 1st quarter worth $3,363,000. State Street Corp lifted its stake in Gossamer Bio by 139.7% in the 4th quarter. State Street Corp now owns 9,310,969 shares of the company’s stock worth $28,864,000 after purchasing an additional 5,427,302 shares in the last quarter. Geode Capital Management LLC lifted its stake in Gossamer Bio by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 4,872,714 shares of the company’s stock worth $15,109,000 after purchasing an additional 183,183 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Gossamer Bio by 19,123.7% during the 4th quarter. Corient Private Wealth LLC now owns 3,845,885 shares of the company’s stock valued at $11,922,000 after purchasing an additional 3,825,879 shares during the last quarter. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Stock Performance

GOSS stock opened at $0.20 on Tuesday. The firm has a fifty day moving average price of $0.18 and a 200 day moving average price of $0.80. Gossamer Bio, Inc. has a fifty-two week low of $0.11 and a fifty-two week high of $3.87. The firm has a market cap of $46.80 million, a PE ratio of -0.25 and a beta of 2.04.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $16.95 million for the quarter, compared to the consensus estimate of $4.67 million. On average, equities analysts predict that Gossamer Bio, Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating on shares of Gossamer Bio in a research report on Monday. Weiss Ratings downgraded Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Gossamer Bio currently has a consensus rating of “Hold” and an average target price of $3.20.

Gossamer Bio 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.