Poseida Therapeutics (NASDAQ:PSTX) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a report released on Friday,Benzinga reports. They currently have a $20.00 price objective on the stock.

Poseida Therapeutics Price Performance

PSTX opened at $2.67 on Friday. Poseida Therapeutics has a 1 year low of $1.87 and a 1 year high of $4.27. The stock has a 50-day moving average price of $2.81 and a 200-day moving average price of $2.92. The firm has a market cap of $260.23 million, a PE ratio of -4.24 and a beta of 0.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20.

Institutional Investors Weigh In On Poseida Therapeutics

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in Poseida Therapeutics by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,520 shares of the company’s stock worth $83,000 after acquiring an additional 3,552 shares during the period. Rhumbline Advisers lifted its holdings in Poseida Therapeutics by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 97,012 shares of the company’s stock worth $283,000 after purchasing an additional 3,875 shares in the last quarter. American Century Companies Inc. grew its holdings in Poseida Therapeutics by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock valued at $264,000 after buying an additional 5,023 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Poseida Therapeutics by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock valued at $1,749,000 after acquiring an additional 9,672 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Poseida Therapeutics during the first quarter valued at about $33,000. 46.87% of the stock is currently owned by institutional investors.

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.