Insider Selling: Gossamer Bio, Inc. (NASDAQ:GOSS) CEO Sells 23,172 Shares of Stock

Gossamer Bio, Inc. (NASDAQ:GOSS) CEO Faheem Hasnain sold 23,172 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total value of $26,879.52. Following the sale, the chief executive officer now directly owns 120,293 shares of the company’s stock, valued at $139,539.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Gossamer Bio Stock Up 0.9 %

Shares of NASDAQ:GOSS traded up $0.01 during midday trading on Thursday, hitting $1.18. The stock had a trading volume of 1,068,291 shares, compared to its average volume of 1,104,399. Gossamer Bio, Inc. has a 12 month low of $0.45 and a 12 month high of $1.88. The company has a quick ratio of 5.94, a current ratio of 5.94 and a debt-to-equity ratio of 3.14. The business’s 50-day simple moving average is $1.13 and its 200-day simple moving average is $0.91. The company has a market cap of $266.18 million, a P/E ratio of -0.85 and a beta of 1.73.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). On average, sell-side analysts forecast that Gossamer Bio, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

Several hedge funds have recently added to or reduced their stakes in GOSS. Swiss National Bank lifted its holdings in Gossamer Bio by 8.0% during the 1st quarter. Swiss National Bank now owns 117,500 shares of the company’s stock valued at $1,020,000 after purchasing an additional 8,700 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gossamer Bio by 138.6% during the first quarter. JPMorgan Chase & Co. now owns 110,313 shares of the company’s stock worth $957,000 after buying an additional 64,083 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Gossamer Bio by 55.4% during the first quarter. MetLife Investment Management LLC now owns 35,240 shares of the company’s stock worth $306,000 after buying an additional 12,565 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Gossamer Bio by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,654,742 shares of the company’s stock worth $49,083,000 after buying an additional 67,283 shares in the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in shares of Gossamer Bio during the first quarter worth $111,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Gossamer Bio in a research note on Wednesday, March 6th. The Goldman Sachs Group decreased their price target on shares of Gossamer Bio from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price target on shares of Gossamer Bio in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of Gossamer Bio in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.05.

Gossamer Bio Company Profile

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis.