Gossamer Bio (NASDAQ:GOSS) Announces Earnings Results, Misses Estimates By $0.08 EPS

Gossamer Bio (NASDAQ:GOSS) released its earnings results on Thursday. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.08), Zacks reports. The company had revenue of $9.24 million during the quarter, compared to analysts’ expectations of $3.63 million.

Gossamer Bio Price Performance

NASDAQ:GOSS opened at $0.17 on Friday. The firm has a market capitalization of $39.97 million, a PE ratio of -0.22 and a beta of 2.04. The business’s fifty day moving average price is $0.17 and its 200 day moving average price is $0.58. Gossamer Bio has a 12 month low of $0.11 and a 12 month high of $3.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Gossamer Bio by 107.2% in the 4th quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock valued at $77,000 after acquiring an additional 43,866 shares during the last quarter. Invesco Ltd. purchased a new stake in Gossamer Bio during the first quarter worth approximately $48,000. Cubist Systematic Strategies LLC acquired a new position in Gossamer Bio in the first quarter valued at approximately $213,000. Goldman Sachs Group Inc. boosted its holdings in Gossamer Bio by 720.2% in the first quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after purchasing an additional 825,047 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Gossamer Bio by 5,250.1% in the first quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock valued at $752,000 after purchasing an additional 670,649 shares during the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Leerink Partners upgraded Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $1.00 price objective for the company in a research note on Tuesday, July 28th. Weiss Ratings lowered shares of Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 19th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Gossamer Bio in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.20.

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.