Gossamer Bio (NASDAQ:GOSS) Rating Lowered to Sell at Zacks Investment Research

Gossamer Bio (NASDAQ:GOSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Gossamer Bio Inc. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutics in the areas of immunology, inflammation and oncology. The company’s product pipeline includes GB001, GB002, GB004, GB1275, Autoimmune program and Oncology program which are in clinical stage. Gossamer Bio Inc. is based in San Diego, California. “

GOSS has been the subject of several other research reports. Bank of America started coverage on shares of Gossamer Bio in a research report on Tuesday, December 3rd. They set a “buy” rating and a $32.00 price objective for the company. ValuEngine lowered shares of Gossamer Bio from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Berenberg Bank started coverage on shares of Gossamer Bio in a research report on Wednesday, October 30th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on shares of Gossamer Bio in a research report on Friday, December 6th. They set an “overweight” rating and a $34.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $29.57.

GOSS stock opened at $25.37 on Thursday. Gossamer Bio has a 52 week low of $14.49 and a 52 week high of $27.15. The company has a quick ratio of 13.64, a current ratio of 13.64 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $23.34 and a two-hundred day simple moving average of $20.36. The firm has a market capitalization of $1.77 billion and a P/E ratio of -1.12.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.80) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.10). As a group, analysts anticipate that Gossamer Bio will post -3.05 EPS for the current year.

In other news, major shareholder Faheem Hasnain bought 28,700 shares of the stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average price of $2.51 per share, for a total transaction of $72,037.00. Also, major shareholder Fund V. Gp L.P. Omega sold 183,607 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $21.96, for a total transaction of $4,032,009.72. Insiders have acquired 40,821 shares of company stock valued at $275,497 in the last quarter. 23.30% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in GOSS. FMR LLC bought a new stake in shares of Gossamer Bio in the 1st quarter worth about $26,576,000. Jennison Associates LLC bought a new stake in shares of Gossamer Bio in the 2nd quarter worth about $14,630,000. BlackRock Inc. lifted its holdings in shares of Gossamer Bio by 63.1% in the 2nd quarter. BlackRock Inc. now owns 1,295,224 shares of the company’s stock worth $28,729,000 after acquiring an additional 500,944 shares during the last quarter. State Street Corp lifted its holdings in shares of Gossamer Bio by 115.3% in the 3rd quarter. State Street Corp now owns 747,938 shares of the company’s stock worth $12,558,000 after acquiring an additional 400,491 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Gossamer Bio by 18.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,627,764 shares of the company’s stock worth $36,104,000 after acquiring an additional 255,103 shares during the last quarter. Hedge funds and other institutional investors own 61.47% of the company’s stock.

Gossamer Bio Company Profile

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. It is developing GB001, an oral antagonist of prostaglandin D2 receptor 2 that is in Phase IIb clinical trial for the treatment of moderate-to-severe eosinophilic asthma, as well as that has completed Phase I clinical trial for chronic rhinosinusitis with nasal polyps, without nasal polyps, and chronic spontaneous urticarial; GB002, a platelet-derived growth factor, receptor kinase inhibitor that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension; GB004, an oral small molecule that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases; and GB1275, an oral small molecule for the treatment of oncology indications.

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