Gossamer Bio (NASDAQ:GOSS) Releases Earnings Results, Beats Expectations By $0.04 EPS

Gossamer Bio (NASDAQ:GOSS) posted its earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04, FiscalAI reports. The firm had revenue of $9.24 million for the quarter, compared to analyst estimates of $3.63 million.

Gossamer Bio Trading Down 4.1%

NASDAQ GOSS traded down $0.01 during midday trading on Thursday, hitting $0.17. The company had a trading volume of 11,899,289 shares, compared to its average volume of 18,054,199. The company has a market capitalization of $39.97 million, a PE ratio of -0.22 and a beta of 2.04. The firm has a 50-day moving average price of $0.17 and a 200-day moving average price of $0.59. Gossamer Bio has a twelve month low of $0.11 and a twelve month high of $3.87.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings lowered shares of Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 19th. Leerink Partners raised shares of Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $1.00 price objective for the company in a report on Tuesday, July 28th. Finally, HC Wainwright reissued a “buy” rating on shares of Gossamer Bio in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.20.

Institutional Trading of Gossamer Bio

Several large investors have recently modified their holdings of GOSS. Cibc World Markets Corp acquired a new position in shares of Gossamer Bio in the 4th quarter valued at approximately $39,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Gossamer Bio during the 4th quarter worth approximately $41,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Gossamer Bio during the 3rd quarter worth approximately $53,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gossamer Bio during the 3rd quarter worth approximately $57,000. Finally, Voleon Capital Management LP bought a new position in Gossamer Bio in the third quarter valued at approximately $51,000. 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.