Gossamer Bio (NASDAQ:GOSS) Stock Price Down 5.7% on Analyst Downgrade

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) traded down 5.7% during trading on Friday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The company traded as low as $2.67 and last traded at $2.7050. 1,306,327 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,635,486 shares. The stock had previously closed at $2.87.

GOSS has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gossamer Bio has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Institutional Trading of Gossamer Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of Gossamer Bio in the 2nd quarter valued at about $26,000. Ciovacco Capital Management LLC acquired a new stake in Gossamer Bio in the third quarter valued at approximately $27,000. Banco BTG Pactual S.A. purchased a new stake in shares of Gossamer Bio in the second quarter valued at approximately $27,000. Drive Wealth Management LLC raised its stake in shares of Gossamer Bio by 52.7% during the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock worth $31,000 after buying an additional 8,797 shares during the period. Finally, Brighton Jones LLC acquired a new position in shares of Gossamer Bio during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

Gossamer Bio Trading Down 5.9%

The business has a 50-day moving average price of $3.10 and a 200-day moving average price of $2.60. The stock has a market cap of $624.93 million, a PE ratio of -3.91 and a beta of 1.92.

Gossamer Bio (NASDAQ:GOSS) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Gossamer Bio had a negative net margin of 354.50% and a negative return on equity of 1,774.72%. The firm had revenue of $13.29 million during the quarter, compared to analyst estimates of $6.32 million. Equities analysts expect that Gossamer Bio, Inc. will post -0.28 earnings per share for the current year.

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.