In a recent transaction on March 27, Gossamer Bio, Inc.'s (NASDAQ:GOSS) Chief Operating Officer and Chief Financial Officer, Bryan Giraudo, sold shares of the company's common stock. The executive parted with a total of 6,430 shares at a weighted average price of $1.1556 per share, resulting in a transaction value of approximately $7,430.
This sale was conducted in a series of trades, with prices ranging from $1.1551 to $1.165 per share. The reported average price reflects the weighted average sale price for the full amount of shares sold. According to a footnote in the filing, these shares were sold to satisfy tax withholding obligations related to the vesting of restricted stock units.
Following the transaction, Giraudo still holds a significant number of shares in the company. Directly, he retains 92,737 shares of Gossamer Bio's common stock. Additionally, there are 380,010 shares held indirectly by a family trust.
Investors and followers of Gossamer Bio can request more detailed information on the exact number of shares sold at each price point directly from the issuer. The sale was disclosed in a Form 4 filing with the Securities and Exchange Commission, signed by Jeff Boerneke, Attorney-in-Fact, on March 28.
InvestingPro Insights
Amidst the recent share sale by Gossamer Bio, Inc.'s (NASDAQ:GOSS) executive Bryan Giraudo, investors may be seeking context to better understand the company's financial health and market performance. Here are some key insights based on current data and InvestingPro Tips:
The market capitalization of Gossamer Bio stands at $266.19 million, reflecting the company's valuation in the market. Despite a challenging period, the stock has experienced a notable price uptick, with a 33.68% return over the last three months and an even more impressive 51.28% increase over the last six months. This could signal a growing investor confidence or a market correction after previous declines, as the stock has also seen a significant hit over the last week with a -10.61% price total return.
On the financial side, Gossamer Bio's balance sheet shows that it holds more cash than debt, which could provide some solace to investors concerned about the company's liquidity and ability to fund its operations. Furthermore, the company's liquid assets surpass its short-term obligations, suggesting a degree of financial stability in the face of immediate liabilities.
However, it's not all positive. The company's P/E ratio stands at -1.01, and when adjusted for the last twelve months as of Q4 2023, it worsens to -1.48. This indicates that the company is not currently profitable, a sentiment echoed by analysts who do not anticipate Gossamer Bio will turn a profit this year. Additionally, the company suffers from weak gross profit margins and is quickly burning through cash, which are critical factors for potential investors to consider.
For those interested in a deeper analysis, there are additional InvestingPro Tips available. For example, Gossamer Bio's stock price movements are quite volatile, and the company does not pay a dividend to shareholders, which might influence investment strategies depending on individual risk appetites and income preferences. To access these tips and more, investors can visit the dedicated InvestingPro page for Gossamer Bio at https://www.investing.com/pro/GOSS.
Investors looking to leverage the full suite of insights offered by InvestingPro can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 11 InvestingPro Tips available for Gossamer Bio, the service provides a comprehensive look at the company's financial standing and market prospects.
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