Poseida Therapeutics (NASDAQ:PSTX) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have a $9.00 target price on the stock, down from their previous target price of $20.00.

Poseida Therapeutics Stock Performance

Poseida Therapeutics stock opened at $9.31 on Tuesday. Poseida Therapeutics has a 12-month low of $1.87 and a 12-month high of $9.42. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $3.25 and its two-hundred day moving average price is $3.10. The stock has a market cap of $907.35 million, a PE ratio of -14.78 and a beta of 0.54.

Insider Transactions at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total transaction of $278,100.00. Following the sale, the chairman now directly owns 651,291 shares in the company, valued at approximately $6,037,467.57. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Poseida Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PSTX. Vanguard Group Inc. grew its holdings in shares of Poseida Therapeutics by 16.3% during the first quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock worth $10,760,000 after purchasing an additional 473,746 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Poseida Therapeutics by 89.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock worth $2,648,000 after purchasing an additional 391,801 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Poseida Therapeutics by 53.4% during the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after purchasing an additional 297,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Poseida Therapeutics by 62.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock worth $1,027,000 after acquiring an additional 138,510 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of Poseida Therapeutics by 14.1% in the second quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock worth $3,216,000 after acquiring an additional 136,273 shares during the period. 46.87% of the stock is currently owned by institutional investors.

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.