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

Gossamer Bio, Inc. (NASDAQ:GOSS) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 8,550,000 shares, a decrease of 5.8% from the August 31st total of 9,080,000 shares. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is currently 5.6 days.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOSS. Oppenheimer started coverage on shares of Gossamer Bio in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $9.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $4.00 price target on shares of Gossamer Bio in a research report on Tuesday, August 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $8.00 price objective on shares of Gossamer Bio in a report on Monday, June 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Gossamer Bio in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $9.20.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Platinum Investment Management Ltd. grew its position in Gossamer Bio by 29.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 6,954,110 shares of the company’s stock worth $6,346,000 after purchasing an additional 1,596,332 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Gossamer Bio in the 4th quarter worth approximately $651,000. Octagon Capital Advisors LP increased its position in Gossamer Bio by 12.2% in the 4th quarter. Octagon Capital Advisors LP now owns 9,187,883 shares of the company’s stock valued at $8,384,000 after acquiring an additional 1,000,000 shares during the period. Sivia Capital Partners LLC bought a new stake in Gossamer Bio during the 1st quarter valued at $29,000. Finally, SG Americas Securities LLC acquired a new position in Gossamer Bio during the 1st quarter worth $34,000. 81.23% of the stock is currently owned by institutional investors.

Gossamer Bio Stock Performance

Shares of NASDAQ GOSS traded up $0.03 during midday trading on Monday, hitting $0.99. The company’s stock had a trading volume of 149,034 shares, compared to its average volume of 1,535,027. The company has a debt-to-equity ratio of 2.42, a quick ratio of 8.21 and a current ratio of 8.21. Gossamer Bio has a 1-year low of $0.45 and a 1-year high of $1.60. The firm’s fifty day moving average price is $0.92 and its 200-day moving average price is $0.89. The firm has a market cap of $224.50 million, a P/E ratio of -0.91 and a beta of 1.95.

Gossamer Bio (NASDAQ:GOSS) last posted its earnings results on Monday, August 12th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $95.84 million during the quarter, compared to the consensus estimate of $160.00 million. On average, sell-side analysts forecast that Gossamer Bio will post -0.33 EPS for the current fiscal year.

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.