Gossamer Bio, Inc. (NASDAQ:GOSS) Sees Significant Drop in Short Interest

Gossamer Bio, Inc. (NASDAQ:GOSS) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 9,080,000 shares, a decrease of 5.2% from the August 15th total of 9,580,000 shares. Based on an average daily volume of 1,990,000 shares, the days-to-cover ratio is presently 4.6 days.

Gossamer Bio Price Performance

Shares of NASDAQ:GOSS opened at $0.91 on Thursday. The company’s fifty day moving average is $0.94 and its two-hundred day moving average is $0.92. The company has a quick ratio of 8.21, a current ratio of 8.21 and a debt-to-equity ratio of 2.42. Gossamer Bio has a 12-month low of $0.45 and a 12-month high of $1.60. The company has a market cap of $206.11 million, a P/E ratio of -0.86 and a beta of 1.95.

Gossamer Bio (NASDAQ:GOSS) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $95.84 million for the quarter, compared to analyst estimates of $160.00 million. Equities analysts expect that Gossamer Bio will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a research report on Tuesday, August 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $8.00 price objective on shares of Gossamer Bio in a research report on Monday, June 17th. Oppenheimer began coverage on Gossamer Bio in a research report on Tuesday, June 25th. They set an “outperform” rating and a $9.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a research report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $9.20.

Insider Activity

In related news, CEO Faheem Hasnain bought 372,000 shares of the stock in a transaction dated Friday, June 21st. The stock was bought at an average cost of $0.67 per share, with a total value of $249,240.00. Following the completion of the acquisition, the chief executive officer now owns 5,408,073 shares of the company’s stock, valued at $3,623,408.91. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Gossamer Bio

Hedge funds have recently bought and sold shares of the company. NEA Management Company LLC lifted its stake in shares of Gossamer Bio by 14.2% in the second quarter. NEA Management Company LLC now owns 18,093,034 shares of the company’s stock valued at $16,300,000 after buying an additional 2,255,025 shares during the period. Vanguard Group Inc. lifted its stake in shares of Gossamer Bio by 1.1% in the first quarter. Vanguard Group Inc. now owns 11,763,784 shares of the company’s stock valued at $13,881,000 after buying an additional 128,150 shares during the period. Octagon Capital Advisors LP lifted its stake in shares of Gossamer Bio by 12.2% in the fourth quarter. Octagon Capital Advisors LP now owns 9,187,883 shares of the company’s stock valued at $8,384,000 after buying an additional 1,000,000 shares during the period. Platinum Investment Management Ltd. lifted its stake in shares of 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 buying an additional 1,596,332 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Gossamer Bio by 31.3% in the second quarter. Acadian Asset Management LLC now owns 3,592,765 shares of the company’s stock valued at $3,235,000 after buying an additional 856,380 shares during the period. 81.23% of the stock is currently owned by institutional investors.

Gossamer Bio Company Profile

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.