Gossamer Bio, Inc. (NASDAQ:GOSS) Short Interest Update

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

Wall Street Analyst Weigh In

GOSS has been the subject of several analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $8.00 price target on shares of Gossamer Bio in a research note on Monday, June 17th. Oppenheimer initiated coverage on shares of Gossamer Bio in a research report on Tuesday, June 25th. They set an “outperform” rating and a $9.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a report on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Gossamer Bio in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.20.

Gossamer Bio Stock Performance

GOSS opened at $0.90 on Wednesday. The stock’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $0.92. The stock has a market cap of $203.30 million, a P/E ratio of -0.85 and a beta of 1.95. Gossamer Bio has a 1-year low of $0.45 and a 1-year high of $1.60. The company has a debt-to-equity ratio of 2.42, a current ratio of 8.21 and a quick ratio of 8.21.

Gossamer Bio (NASDAQ:GOSS) last posted its earnings results on Monday, August 12th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $95.84 million during the quarter, compared to the consensus estimate of $160.00 million. As a group, equities analysts anticipate that Gossamer Bio will post -0.33 EPS for the current fiscal year.

Insider Activity at Gossamer Bio

In other news, CEO Faheem Hasnain bought 372,000 shares of Gossamer Bio stock in a transaction dated 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 acquisition, the chief executive officer now owns 5,408,073 shares of the company’s stock, valued at $3,623,408.91. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Trading of Gossamer Bio

A number of hedge funds have recently bought and sold shares of the company. Algert Global LLC purchased a new position in shares of Gossamer Bio during the 2nd quarter worth $75,000. The Manufacturers Life Insurance Company lifted its position in Gossamer Bio by 67.4% during the second quarter. The Manufacturers Life Insurance Company now owns 310,213 shares of the company’s stock worth $279,000 after buying an additional 124,913 shares during the period. NEA Management Company LLC boosted its stake in Gossamer Bio by 14.2% in the 2nd quarter. NEA Management Company LLC now owns 18,093,034 shares of the company’s stock worth $16,300,000 after buying an additional 2,255,025 shares during the last quarter. Marshall Wace LLP boosted its stake in Gossamer Bio by 170.8% in the 2nd quarter. Marshall Wace LLP now owns 3,335,511 shares of the company’s stock worth $3,002,000 after buying an additional 2,103,766 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Gossamer Bio by 204.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,046,600 shares of the company’s stock valued at $1,844,000 after buying an additional 1,375,000 shares during the 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.