Gossamer Bio shares tumbled 19% this week to $0.36, tracking analysts' bearish pivot after disappointing trial data. Short interest fell 3% week-over-week to 15.4% of float, while borrowing costs eased and utilisation dropped sharply from recent peaks.
GOSS closed at $0.36 on April 24, down 19% over the week and nearly 3% on the day. The one-month view shows a modest 5% gain, though that comes off March lows. The biotech trades well below its recent range, under pressure since clinical readouts failed to meet Street expectations.
Short interest stood at 35.6 million shares on April 23, representing 15.4% of float. That's down 3% from a week earlier and 2.7% from a month ago. The retreat from late-March peaks near 39 million shares marks the lowest level since mid-March.
Cost to borrow was 1.38% on April 23, down slightly from 1.40% a week prior. CTB spiked to 2.46% on April 14—the highest in the past month—before settling back to current levels. Over the past 30 days, borrowing costs have climbed 19% as supply tightened.
Utilisation was 49.7% on April 23, down from 53.3% a week earlier. The metric touched a 52-week high of 62.4% on April 9, but has since retraced as short sellers trimmed positions. The current level sits near late-March readings, well below the early-April peak.
The put-call ratio was 0.15 on April 24, slightly above the 20-day mean of 0.15. The z-score of 0.60 indicates a mild tilt toward call activity, though not extreme. Over the past year, PCR ranged from 0.03 to 0.89, placing the current reading in neutral territory.
The consensus rating is hold, with 2 buy recommendations and 5 hold ratings. Cantor Fitzgerald downgraded GOSS to Neutral from Overweight on March 23 following trial results. HC Wainwright cut its target to $5 from $10 on March 6 while maintaining a Buy rating. Oppenheimer lowered its target to $3 from $12 on March 5, also keeping an Outperform stance.
Wedbush downgraded to Neutral from Outperform on February 24, slashing its target to $1 from $6. Barclays moved to Underweight from Overweight the same day, cutting its target to $0.30 from $9. Leerink Partners downgraded to Market Perform from Outperform, lowering its target to $1 from $6.
Analysts had flagged optimism around Seralutinib's PAH trial data, highlighting a 20–25 meter placebo-adjusted improvement in six-minute walk distance after 48 weeks. But disappointing PROSERA data dashed registrational hopes, prompting a wave of downgrades. FY32 revenue estimates fell to $324 million from $993 million, according to Benzinga bull/bear commentary.
The price-to-book ratio was -2.49 on April 24, reflecting a 30-day decline of 0.85 as the stock sold off. Price-to-earnings was -0.96, down 0.06 over the month. EV/EBITDA stood at -2.18, up marginally from 30 days prior.
The stock ranks in the 14th percentile for short score and 20th percentile for utilisation—both signals of elevated short activity. EPS momentum ranks in the 12th percentile over 90 days and 17th over 30 days. Dividend score sits at the 73rd percentile despite no dividend history, likely reflecting sector norms.
State Street Global Advisors added 5.4 million shares in Q1 2026, lifting its stake to 9.3 million shares (4.0% of the company). BlackRock added 3.2 million shares, bringing its position to 17.1 million (7.3%). Vanguard increased by 863,000 shares to 12.9 million (5.5%).
Active manager 683 Capital Management initiated a 5 million share position (2.1%) as of March 24. Samsara BioCapital added 1.1 million shares, holding 7.2 million (3.1%). Founder and CEO Faheem Hasnain increased his stake by 280,000 shares to 6.2 million (2.7%) as of early January.
Octagon Capital trimmed 1.9 million shares, holding 15.1 million (6.5%). New Enterprise Associates slashed its position by 11.7 million shares to 4.1 million (1.7%). Palo Alto Investors cut 993,000 shares to 4.5 million (1.9%).
Director Sandra Milligan bought 26,050 shares at $1.92 on August 19, 2025, for $50,016. That's the only insider trade in the past 90 days, representing the net insider position. CEO Faheem Hasnain purchased 372,000 shares at $0.67 in June 2024 for $250,282. COO Bryan Giraudo bought 100,000 shares at $0.59 the same month for $59,110.
Selling activity from mid-2024 included small tax-related transactions by executives. Chief Medical Officer Richard Aranda sold 1,908 shares at $0.66 in June 2024 for $1,260.
Earnings are scheduled for May 7 at 8:00 PM UTC. The last event was March 19, with prior prints on March 17, November 10, and November 5. Post-earnings price reactions were not captured in the historical data.
Next earnings release is May 7. Investor focus will be on Seralutinib development plans after the PROSERA setback and updated guidance on cash runway. Short sellers have stepped back from recent highs, but sustained pressure hinges on trial progress and management's strategic pivot. Utilisation has cooled from the April 9 peak, easing near-term squeeze risk.
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