Poseida Therapeutics (NASDAQ:PSTX) Sets New 1-Year High – Here’s Why

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

Analyst Upgrades and Downgrades

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

Poseida Therapeutics Price Performance

The company has a market capitalization of $934.72 million, a PE ratio of -15.17 and a beta of 1.64. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average price is $5.96 and its 200-day moving average price is $4.02.

Insider Activity at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $9.27, for a total value of $278,100.00. Following the transaction, the chairman now owns 651,291 shares in the company, valued at approximately $6,037,467.57. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Poseida Therapeutics

Several institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Poseida Therapeutics by 2.3% in the 3rd quarter. State Street Corp now owns 1,710,565 shares of the company’s stock valued at $4,892,000 after acquiring an additional 38,770 shares during the period. Blair William & Co. IL increased its holdings 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 valued at $3,216,000 after purchasing an additional 136,273 shares in the last quarter. Renaissance Technologies LLC raised its position in Poseida Therapeutics by 53.4% in the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock valued at $2,496,000 after purchasing an additional 297,500 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Poseida Therapeutics by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after purchasing an additional 9,672 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Poseida Therapeutics by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 567,063 shares of the company’s stock worth $1,622,000 after buying an additional 21,255 shares during the period. 46.87% of the stock is currently owned by hedge funds and other 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.