HC Wainwright Reiterates Buy Rating for Gossamer Bio

HC Wainwright maintained its "buy" rating on Gossamer Bio (NASDAQ:GOSS) in a recent research note released to investors on Thursday. The firm has set a price target of $10.00 per share for Gossamer Bio, reflecting its positive outlook on the company.

Performance Overview of Gossamer Bio

On Thursday, the stock of Gossamer Bio opened at $0.92. Over the past 50 days, the moving average price has been $0.86, and for the last 200 days, it is $0.90. Gossamer Bio's stock experienced a 1-year low of $0.50 and a high of $1.60. As of the latest data, the market capitalization of the company stands at $208.15 million. The price-to-earnings (P/E) ratio is reported at -2.87, while the stock has a beta of 1.81. Additionally, the company has a debt-to-equity ratio of 3.64 and both the quick ratio and current ratio are notably high at 6.74.

Most recently, Gossamer Bio announced its quarterly earnings on Thursday, November 7th. The report revealed a loss of ($0.14) earnings per share, which was better than the analysts' consensus estimate of ($0.18) by $0.04. The company recorded revenue of $9.48 million for the quarter, which exceeded expectations that were set at $4.52 million. Analysts predict that Gossamer Bio will end the current fiscal year with expected earnings of -$0.28 per share.

Investment Movements

Recently, there have been several adjustments to institutional holdings of Gossamer Bio stock. For instance, Jacobs Levy Equity Management Inc. increased its stake in the company by 30.7% during the third quarter, now holding 1,887,512 shares valued at $1,862,000 after acquiring an additional 442,895 shares. The Manufacturers Life Insurance Company also boosted its stake by 24.2%, owning 385,133 shares worth $380,000 after increasing its holdings by 74,920 shares. Moreover, GSA Capital Partners LLP purchased a new position worth $67,000, and US Bancorp DE acquired a new position for $39,000. Sequoia Financial Advisors LLC raised its holdings by 26.7%, owning 118,500 shares valued at $117,000 after obtaining an additional 25,000 shares during that time. In total, institutional investors own approximately 81.23% of Gossamer Bio's stocks.

About Gossamer Bio

Gossamer Bio, Inc. is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of seralutinib aimed at treating pulmonary arterial hypertension (PAH) in the United States. The company is also in the process of developing GB002, which is an inhaled small molecule that targets platelet-derived growth factor receptor, or PDGFR, along with colony-stimulating factor 1 receptor and c-KIT inhibitors, currently undergoing Phase 3 trials for PAH treatment.

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