HC Wainwright Reiterates “Buy” Rating for Poseida Therapeutics (NASDAQ:PSTX)

HC Wainwright restated their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a research report sent to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $20.00 target price on the stock.

Poseida Therapeutics Price Performance

Shares of PSTX opened at $2.38 on Wednesday. The business’s 50-day moving average is $2.78 and its two-hundred day moving average is $2.85. The company has a market capitalization of $231.18 million, a P/E ratio of -2.00 and a beta of 0.51. Poseida Therapeutics has a fifty-two week low of $1.87 and a fifty-two week high of $4.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.48 and a current ratio of 2.48.

Poseida Therapeutics (NASDAQ:PSTX) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. The company had revenue of $25.97 million during the quarter, compared to the consensus estimate of $13.75 million. Poseida Therapeutics had a negative return on equity of 121.01% and a negative net margin of 127.48%. Research analysts predict that Poseida Therapeutics will post -1.57 earnings per share for the current year.

Institutional Investors Weigh In On Poseida Therapeutics

A number of institutional investors have recently modified their holdings of PSTX. Marshall Wace LLP purchased a new stake in shares of Poseida Therapeutics in the second quarter valued at approximately $31,000. Bayesian Capital Management LP acquired a new position in Poseida Therapeutics during the first quarter worth $33,000. Rothschild Investment LLC purchased a new position in Poseida Therapeutics during the second quarter valued at $35,000. Principal Financial Group Inc. acquired a new stake in shares of Poseida Therapeutics in the second quarter valued at about $35,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Poseida Therapeutics during the second quarter worth about $51,000. 46.87% of the stock is currently owned by institutional investors and hedge funds.

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.