HC Wainwright Reaffirms Buy Rating for Poseida Therapeutics (NASDAQ:PSTX)

HC Wainwright reiterated their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a research report sent to investors on Thursday morning, Benzinga reports. HC Wainwright currently has a $20.00 price target on the stock.

Poseida Therapeutics Price Performance

Poseida Therapeutics stock opened at $2.45 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.48 and a quick ratio of 2.48. The business has a 50 day simple moving average of $2.85 and a 200-day simple moving average of $2.88. Poseida Therapeutics has a 12 month low of $1.83 and a 12 month high of $4.27. The stock has a market capitalization of $237.97 million, a PE ratio of -2.06 and a beta of 0.51.

Poseida Therapeutics (NASDAQ:PSTX) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.11. Poseida Therapeutics had a negative net margin of 127.48% and a negative return on equity of 121.01%. The firm had revenue of $25.97 million during the quarter, compared to analysts’ expectations of $13.75 million. Equities analysts predict that Poseida Therapeutics will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PSTX. Marshall Wace LLP purchased a new stake in shares of Poseida Therapeutics during the 2nd quarter worth $31,000. Bayesian Capital Management LP acquired a new stake in shares of Poseida Therapeutics in the first quarter valued at about $33,000. Rothschild Investment LLC purchased a new stake in Poseida Therapeutics during the second quarter worth about $35,000. Principal Financial Group Inc. acquired a new position in Poseida Therapeutics during the second quarter worth about $35,000. Finally, Mackenzie Financial Corp purchased a new position in Poseida Therapeutics in the second quarter valued at about $51,000. Institutional investors and hedge funds own 46.87% of the company’s stock.

About Poseida Therapeutics

Poseida Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapeutics for patients with high unmet medical needs. The company's development candidates for Heme Malignancies includes P-BCMA-ALLO1, which is in Phase I trial to treat patients with relapsed/refractory multiple myeloma; P-CD19CD20-ALLO1, which is in Phase I trial for treating B cell malignancies and other autoimmune diseases; P-BCMACD19-ALLO1, an allogeneic, off-the-shelf CAR-T product candidate in preclinical development for treating multiple myeloma; and P-CD70-ALLO1 under preclinical development to treat hematological indications.