Poseida Therapeutics (NASDAQ:PSTX) Hits New 12-Month High – What’s Next?

Poseida Therapeutics, Inc. (NASDAQ:PSTX) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.60 and last traded at $9.57, with a volume of 470167 shares trading hands. The stock had previously closed at $9.48.

Analysts Set New Price Targets

Several research analysts recently commented on PSTX shares. Cantor Fitzgerald downgraded shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Piper Sandler lowered Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Monday, December 2nd. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. HC Wainwright reissued a “neutral” rating and set a $9.00 price objective (down previously from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Finally, BTIG Research reaffirmed 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 MarketBeat.com, Poseida Therapeutics has a consensus rating of “Hold” and a consensus price target of $9.50.

Poseida Therapeutics Stock Performance

The firm has a market capitalization of $938.63 million, a PE ratio of -15.24 and a beta of 1.64. 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 50-day moving average of $6.38 and a 200 day moving average of $4.15.

Insider Transactions at Poseida Therapeutics

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.46, for a total transaction of $283,800.00. Following the sale, the chairman now owns 651,291 shares in the company, valued at $6,161,212.86. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Poseida Therapeutics

Several institutional investors have recently modified their holdings of PSTX. Renaissance Technologies LLC grew its position in Poseida Therapeutics by 53.4% during the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock valued at $2,496,000 after acquiring an additional 297,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Poseida Therapeutics by 62.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock valued at $1,027,000 after purchasing an additional 138,510 shares during the last quarter. Blair William & Co. IL raised its position in Poseida Therapeutics by 14.1% in the 2nd quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock worth $3,216,000 after purchasing an additional 136,273 shares during the period. Fred Alger Management LLC purchased a new position in Poseida Therapeutics in the 3rd quarter worth $369,000. Finally, Advantage Alpha Capital Partners LP bought a new stake in Poseida Therapeutics in the third quarter worth $285,000. 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.