The Vanguard Group, Inc. recently announced the acquisition of new stake in Gossamer Bio Inc (NASDAQ:GOSS). The institutional investor has increased its shareholding in the Healthcare company by 214.45% to 11.17 million shares with purchase of 7.62 million shares. This fresh investment now brings its stake to 4.96% valued currently at $5.58 million. In addition, EcoR1 Capital, LLC raised its holdings by 9.2 million to 9.2 million shares. And Octagon Capital Advisors LP has lifted its position by 106.87% or 4.23 million shares – to 8.19 million shares.
With over 3.44 million Gossamer Bio Inc (GOSS) shares trading Tuesday and a closing price of $1.03 on the day, the dollar volume was approximately $3.54 million. The shares have shown a negative half year performance of -17.60% and its price on 12/05/23 gained nearly 6.31%. Currently, there are 225.41M common shares owned by the public and among those 182.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for GOSS have a consensus price objective of $5.68. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $0.50. The average price target is 81.87% above its recent price level and a downside to the estimated low will see the stock lose -106.0% over that period. But an upside of 93.13% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 1,841,772 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 22,970 shares.
The top 3 mutual fund holders in Gossamer Bio Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and iShares Biotechnology ETF. Vanguard Total Stock Market ETF owns 7.83 million shares of the company’s stock, all valued at over $3.92 million. iShares Biotechnology ETF sold 3606.0 shares to bring its total holdings to over 1.32 million shares at a value of $0.66 million. iShares Biotechnology ETF now owns shares totaling to 0.59% of the shares outstanding.
Shares of Gossamer Bio Inc (NASDAQ: GOSS) opened at $0.9812, up $0.01 from a prior closing price of $0.97. However, the script later moved the day high at 1.0325, up 6.31%. The company’s stock has a 5-day price change of 48.99% and 0.98% over the past three months. GOSS shares are trading -52.53% year to date (YTD), with the 12-month market performance down to -88.58% lower. It has a 12-month low price of $0.45 and touched a high of $9.55 over the same period. GOSS has an average intraday trading volume of 2.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 42.85%, 54.85%, and -7.60% respectively.
Institutional ownership of Gossamer Bio Inc (NASDAQ: GOSS) shares accounts for 75.29% of the company’s 225.41M shares outstanding. Mutual fund holders own 7.86%, while other institutional holders and individual stakeholders account for 8.46% and 66.86% respectively.
It has a market capitalization of $232.17M and a beta (3y monthly) value of 1.52. The earnings-per-share (ttm) stands at -$1.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.77% over the week and 12.89% over the month.
Analysts forecast that Gossamer Bio Inc (GOSS) will achieve an EPS of -$0.21 for the current quarter, -$0.2 for the next quarter and -$0.8 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.59 a year ago. Earnings per share for the fiscal year are expected to increase by 54.18%, and 35.24% over the next financial year. EPS should grow at an annualized rate of 5.20% over the next five years, compared to -92.43% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Gossamer Bio Inc (GOSS) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 3 of the 10 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GOSS, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on July 27, 2023, with the firm’s price target at $8-$1.25.
