Gossamer Bio (NASDAQ:GOSS) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer began coverage on shares of Gossamer Bio (NASDAQ:GOSS) in a report published on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $9.00 price target on the stock.

Several other research analysts have also commented on the company. Piper Sandler reaffirmed an overweight rating and set a $15.00 price target on shares of Gossamer Bio in a research report on Wednesday, March 27th. The Goldman Sachs Group reiterated a buy rating and issued a $8.00 target price on shares of Gossamer Bio in a research note on Monday, June 17th. HC Wainwright reiterated a buy rating and issued a $10.00 target price on shares of Gossamer Bio in a research note on Monday, May 20th. Finally, Wedbush reiterated an outperform rating and issued a $4.00 target price on shares of Gossamer Bio in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gossamer Bio currently has a consensus rating of Moderate Buy and an average target price of $7.88.

Gossamer Bio Trading Up 1.4 %

GOSS opened at $0.95 on Tuesday. The firm has a market cap of $215.38 million, a price-to-earnings ratio of -0.90 and a beta of 1.90. Gossamer Bio has a 52 week low of $0.45 and a 52 week high of $1.88. The business’s 50 day moving average is $0.67 and its two-hundred day moving average is $0.92. The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 7.37.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.19) EPS for the quarter, hitting the consensus estimate of ($0.19). On average, research analysts predict that Gossamer Bio will post -0.35 EPS for the current year.

Insider Activity at Gossamer Bio

In other Gossamer Bio news, CEO Faheem Hasnain purchased 372,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were purchased at an average cost of $0.67 per share, for a total transaction of $249,240.00. Following the completion of the purchase, the chief executive officer now directly owns 5,408,073 shares in the company, valued at $3,623,408.91. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Gossamer Bio

Institutional investors have recently modified their holdings of the business. Sivia Capital Partners LLC purchased a new stake in shares of Gossamer Bio in the first quarter valued at approximately $29,000. SG Americas Securities LLC purchased a new stake in Gossamer Bio during the first quarter worth $34,000. Financial Advocates Investment Management boosted its position in Gossamer Bio by 35.0% during the fourth quarter. Financial Advocates Investment Management now owns 98,350 shares of the company’s stock worth $90,000 after purchasing an additional 25,500 shares in the last quarter. Citigroup Inc. boosted its position in Gossamer Bio by 9,916.9% during the third quarter. Citigroup Inc. now owns 196,732 shares of the company’s stock worth $164,000 after purchasing an additional 194,768 shares in the last quarter. Finally, Kynam Capital Management LP purchased a new stake in Gossamer Bio during the third quarter worth $208,000. 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.