Gossamer Bio (NASDAQ:GOSS) Releases Quarterly Earnings Results

Gossamer Bio (NASDAQ:GOSS) announced its earnings results on Thursday. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02, Zacks reports. The company had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $3.95 million.

Gossamer Bio Stock Down 1.0%

Gossamer Bio stock opened at $1.04 on Friday. The company has a debt-to-equity ratio of 3.64, a current ratio of 6.74 and a quick ratio of 6.74. Gossamer Bio has a 1-year low of $0.50 and a 1-year high of $1.55. The company has a market cap of $236.31 million, a PE ratio of -3.25 and a beta of 1.82. The stock’s 50 day moving average price is $1.04 and its 200 day moving average price is $0.99.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOSS. Wedbush reiterated an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a research note on Friday. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Gossamer Bio in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group lifted their price target on Gossamer Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday.

Institutional Trading of Gossamer Bio

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in shares of Gossamer Bio by 720.2% in the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after buying an additional 825,047 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Gossamer Bio in the first quarter valued at $213,000. Bank of America Corp DE increased its position in shares of Gossamer Bio by 107.2% in the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock valued at $77,000 after buying an additional 43,866 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Gossamer Bio in the first quarter valued at $48,000. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

About Gossamer Bio

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.