5 Most Shorted Stocks Hedge Funds Are Buying

2. Gossamer Bio, Inc. (NASDAQ:GOSS)

Short % of Float (Nov 29, 2022): 26.22%

Number of Hedge Fund Holders: 33

Founded in 2015, Gossamer Bio, Inc. (NASDAQ:GOSS) is a clinical-stage biopharmaceutical company that develops and commercializes therapies for the treatment of chronic and acute diseases. Gossamer Bio, Inc. (NASDAQ:GOSS) has a number of drug candidates in its pipeline, including therapies for respiratory diseases, immuno-oncology, and fibrosis.

Geoff Meacham, an analyst at BofA, keeps a price target of $7 on Gossamer Bio, Inc. (NASDAQ:GOSS) with a Buy rating on the stock. The analyst keeps a bullish view as he sees a positive risk/reward given that the shares are trading below $3 per share.

While Brian Cheng, an analyst at JPMorgan, recently lowered his rating on the stock to Underweight from Neutral without placing a price target. The analyst has a bearish view of the company because Gossamer Bio, Inc. (NASDAQ:GOSS)’s phase 3 plan to include FCIII and FCII with a higher risk threshold is confusing, and he remains cautious about the company’s outlook in 2023.

As per Insider Monkey’s database, 33 hedge funds remained bullish on Gossamer Bio, Inc. (NASDAQ:GOSS) at the end of Q3 2022. Hillhouse Capital Management came out to be the biggest holder of the company’s shares at the end of the quarter.