Gossamer Bio (NASDAQ:GOSS) Receives New Coverage from Analysts at Oppenheimer

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

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

Gossamer Bio Price Performance

Shares of NASDAQ:GOSS opened at $0.95 on Tuesday. The firm has a market cap of $215.38 million, a PE ratio of -0.90 and a beta of 1.90. The firm’s fifty day moving average is $0.67 and its 200-day moving average is $0.92. The company has a debt-to-equity ratio of 7.37, a quick ratio of 7.13 and a current ratio of 7.13. Gossamer Bio has a 52 week low of $0.45 and a 52 week high of $1.88.

Gossamer Bio (NASDAQ:GOSS) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). Sell-side analysts predict that Gossamer Bio will post -0.35 earnings per share for the current year.

Insider Transactions at Gossamer Bio

In other news, CEO Faheem Hasnain acquired 372,000 shares of Gossamer Bio stock in a transaction on Friday, June 21st. The stock was acquired at an average cost of $0.67 per share, with a total value of $249,240.00. Following the transaction, the chief executive officer now owns 5,408,073 shares of the company’s stock, valued at approximately $3,623,408.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gossamer Bio

A number of institutional investors have recently added to or reduced their stakes in GOSS. ARCH Venture Management LLC bought a new stake in Gossamer Bio in the 3rd quarter worth about $6,709,000. Armistice Capital LLC purchased a new position in Gossamer Bio in the third quarter valued at about $4,127,000. Palo Alto Investors LP boosted its stake in Gossamer Bio by 88.5% in the third quarter. Palo Alto Investors LP now owns 6,530,288 shares of the company’s stock valued at $5,438,000 after acquiring an additional 3,065,136 shares during the last quarter. Federated Hermes Inc. boosted its stake in Gossamer Bio by 326.2% in the third quarter. Federated Hermes Inc. now owns 3,994,723 shares of the company’s stock valued at $3,328,000 after acquiring an additional 3,057,419 shares during the last quarter. Finally, Platinum Investment Management Ltd. boosted its stake in Gossamer Bio by 29.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 6,954,110 shares of the company’s stock valued at $6,346,000 after acquiring an additional 1,596,332 shares during the last quarter. 81.23% of the stock is owned by 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.