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

Poseida Therapeutics (NASDAQ:PSTX)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They presently have a $9.00 target price on the stock, down from their prior target price of $20.00. HC Wainwright’s target price suggests a potential downside of 3.54% from the company’s current price.

Poseida Therapeutics Stock Down 0.5 %

Shares of NASDAQ:PSTX opened at $9.33 on Tuesday. The stock’s 50-day moving average is $3.02 and its 200 day moving average is $3.01. The company has a market cap of $909.35 million, a PE ratio of -14.81 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. Poseida Therapeutics has a 1 year low of $1.87 and a 1 year high of $9.42.

Insider Buying and Selling

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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Poseida Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Poseida Therapeutics by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock valued at $10,760,000 after purchasing an additional 473,746 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Poseida Therapeutics by 89.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock worth $2,648,000 after buying an additional 391,801 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Poseida Therapeutics by 62.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock valued at $1,027,000 after acquiring an additional 138,510 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Poseida Therapeutics by 14.1% in the second quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock valued at $3,216,000 after acquiring an additional 136,273 shares in the last quarter. 46.87% of the stock is 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.