Gossamer Bio (NASDAQ:GOSS) Earns Neutral Rating from Wedbush

Gossamer Bio (NASDAQ:GOSS)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued on Tuesday, Marketbeat reports. They currently have a $1.00 price target on the stock, down from their prior price target of $6.00. Wedbush’s price objective points to a potential upside of 163.09% from the stock’s previous close.

A number of other analysts also recently issued reports on GOSS. Royal Bank Of Canada raised Gossamer Bio to an “outperform” rating in a research report on Tuesday. Barclays downgraded Gossamer Bio from an “overweight” rating to an “underweight” rating in a research note on Tuesday. Wall Street Zen cut Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Leerink Partners downgraded shares of Gossamer Bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Gossamer Bio in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.67.

Gossamer Bio Stock Down 8.5%

Gossamer Bio stock opened at $0.38 on Tuesday. The firm has a 50 day moving average price of $2.54 and a 200-day moving average price of $2.65. Gossamer Bio has a twelve month low of $0.33 and a twelve month high of $3.87. The company has a market capitalization of $87.98 million, a P/E ratio of -0.55 and a beta of 1.93.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Gossamer Bio by 107.2% during 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 during the period. Invesco Ltd. purchased a new position in Gossamer Bio during the first quarter valued at approximately $48,000. Cubist Systematic Strategies LLC purchased a new position in Gossamer Bio during the first quarter valued at approximately $213,000. Goldman Sachs Group Inc. increased its holdings in Gossamer Bio by 720.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock worth $1,034,000 after acquiring an additional 825,047 shares during the period. Finally, Jane Street Group LLC lifted its stake in Gossamer Bio by 5,250.1% in the 1st quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock worth $752,000 after purchasing an additional 670,649 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

About Gossamer Bio

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.