Poseida Therapeutics (NASDAQ:PSTX) Downgraded to Neutral Rating by Piper Sandler

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Monday, MarketBeat reports. They presently have a $10.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 7.18% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on PSTX. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Cantor Fitzgerald lowered shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. HC Wainwright reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Finally, BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Trading Up 0.1 %

PSTX opened at $9.33 on Monday. Poseida Therapeutics has a twelve month low of $1.87 and a twelve 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 company has a fifty day moving average of $3.50 and a 200-day moving average of $3.18. The stock has a market cap of $909.30 million, a PE ratio of -14.81 and a beta of 1.64.

Insider Buying and Selling

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Poseida Therapeutics

Large investors have recently modified their holdings of the company. Marshall Wace LLP bought a new position in shares of Poseida Therapeutics in the second quarter valued at approximately $31,000. Rothschild Investment LLC bought a new stake in Poseida Therapeutics during the second quarter valued at approximately $35,000. Principal Financial Group Inc. bought a new stake in Poseida Therapeutics during the second quarter valued at approximately $35,000. Virtu Financial LLC bought a new stake in Poseida Therapeutics during the third quarter valued at approximately $37,000. Finally, Intech Investment Management LLC bought a new stake in Poseida Therapeutics during the third quarter valued at approximately $46,000. 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.