Gossamer Bio (NASDAQ:GOSS) Hits New 52-Week High – Here’s Why

Gossamer Bio, Inc. (NASDAQ:GOSS)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.73 and last traded at $3.7550, with a volume of 697671 shares trading hands. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOSS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a report on Thursday, September 11th. Wall Street Zen raised Gossamer Bio from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Gossamer Bio presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Gossamer Bio Stock Down 0.6%

The stock’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $2.23. The stock has a market cap of $833.24 million, a price-to-earnings ratio of -5.22 and a beta of 1.92.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GOSS. Vanguard Group Inc. boosted its position in Gossamer Bio by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,009,773 shares of the company’s stock worth $31,586,000 after purchasing an additional 598,981 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Gossamer Bio by 12.4% in the 2nd quarter. Acadian Asset Management LLC now owns 7,146,022 shares of the company’s stock valued at $8,786,000 after purchasing an additional 787,909 shares during the period. Geode Capital Management LLC boosted its holdings in Gossamer Bio by 100.4% during the second quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock worth $5,604,000 after buying an additional 2,282,632 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Gossamer Bio by 8.9% during the second quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company’s stock worth $4,543,000 after buying an additional 302,200 shares in the last quarter. Finally, Millennium Management LLC grew its position in Gossamer Bio by 629.3% during the third quarter. Millennium Management LLC now owns 3,619,329 shares of the company’s stock valued at $9,519,000 after buying an additional 3,123,081 shares during the period. 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.