Gossamer Bio (NASDAQ:GOSS) Releases Earnings Results, Hits Estimates

Gossamer Bio (NASDAQ:GOSS) posted its earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15), Zacks reports. The company had revenue of $9.38 million during the quarter, compared to analyst estimates of $7.02 million.

Gossamer Bio Trading Up 2.2 %

NASDAQ:GOSS opened at $1.42 on Wednesday. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 3.64. The business’s 50 day moving average is $1.14 and its two-hundred day moving average is $0.97. Gossamer Bio has a 52 week low of $0.50 and a 52 week high of $1.55. The company has a market cap of $321.78 million, a PE ratio of -4.44 and a beta of 1.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a research note on Friday, March 14th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Gossamer Bio in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.20.

Institutional Trading of Gossamer Bio

A hedge fund recently raised its stake in Gossamer Bio stock. Bank of America Corp DE increased its stake in Gossamer Bio, Inc. (NASDAQ:GOSS) by 107.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,788 shares of the company’s stock after purchasing an additional 43,866 shares during the period. Bank of America Corp DE’s holdings in Gossamer Bio were worth $77,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 81.23% of the company’s stock.

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.