Gossamer Bio’s (NASDAQ:GOSS) quiet period is set to end on Wednesday, March 20th. Gossamer Bio had issued 17,250,000 shares in its initial public offering on February 8th. The total size of the offering was $276,000,000 based on an initial share price of $16.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research firms have issued reports on GOSS. Bank of America began coverage on Gossamer Bio in a report on Tuesday, March 5th. They set a “buy” rating and a $30.00 price objective on the stock. Svb Leerink began coverage on Gossamer Bio in a report on Tuesday, March 5th. They set an “outperform” rating and a $30.00 price objective on the stock. Barclays began coverage on Gossamer Bio in a report on Tuesday, March 5th. They set an “overweight” rating and a $27.00 price objective on the stock. Evercore ISI began coverage on Gossamer Bio in a report on Tuesday, March 5th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Leerink Swann began coverage on Gossamer Bio in a research note on Tuesday, March 5th. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $29.25.
GOSS stock opened at $19.46 on Wednesday. Gossamer Bio has a twelve month low of $16.00 and a twelve month high of $25.06.
In related news, CFO Bryan Giraudo purchased 6,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were bought at an average price of $16.00 per share, with a total value of $96,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Russell J. Cox purchased 7,200 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $115,200.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 14,750 shares of company stock worth $236,000.
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Gossamer Bio Company Profile
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. It is developing GB001, an oral antagonist that is in Phase IIb clinical trial for the treatment of moderate-to-severe eosinophilic asthma, as well as that has completed Phase I clinical trial for chronic rhinosinusitis with nasal polyps, and chronic spontaneous urticarial; GB002, a platelet-derived growth factor, receptor kinase inhibitor that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension; GB004, an oral small molecule that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases; and GB1275, an oral small molecule for the treatment of oncology indications.
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