Poseida Therapeutics (NASDAQ:PSTX) Rating Lowered to “Hold” at Cantor Fitzgerald

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by investment analysts at Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday. BTIG Research reissued a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday. Finally, HC Wainwright reissued a “neutral” rating and set a $9.00 price target (down previously from $20.00) on shares of Poseida Therapeutics in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Stock Performance

Shares of PSTX stock opened at $9.33 on Tuesday. The stock’s 50-day moving average is $3.02 and its two-hundred day moving average is $3.01. The firm has a market cap of $909.35 million, a price-to-earnings ratio of -14.81 and a beta of 0.54. Poseida Therapeutics has a 1 year low of $1.87 and a 1 year high of $9.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20.

Insider Buying and Selling

In related news, Chairman Mark J. Gergen sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $9.27, for a total value of $278,100.00. Following the completion of the sale, the chairman now owns 651,291 shares in the company, valued at $6,037,467.57. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Poseida Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PSTX. Bayesian Capital Management LP acquired a new stake in shares of Poseida Therapeutics during the 1st quarter valued at approximately $33,000. Marshall Wace LLP acquired a new stake in shares of Poseida Therapeutics during the 2nd quarter valued at approximately $31,000. Rothschild Investment LLC acquired a new stake in shares of Poseida Therapeutics during the 2nd quarter valued at approximately $35,000. Principal Financial Group Inc. acquired a new stake in shares of Poseida Therapeutics during the 2nd quarter valued at approximately $35,000. Finally, Virtu Financial LLC acquired a new stake in shares of Poseida Therapeutics during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 46.87% of the company’s stock.

Poseida Therapeutics Company Profile

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.