Poseida Therapeutics (NASDAQ:PSTX) Rating Lowered to “Hold” at Cantor Fitzgerald

Cantor Fitzgerald lowered shares of Poseida Therapeutics (NASDAQ:PSTX) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

PSTX has been the topic of several other research reports. HC Wainwright reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday. Finally, William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Poseida Therapeutics currently has a consensus rating of “Hold” and an average target price of $9.50.

Poseida Therapeutics Stock Down 0.5 %

PSTX opened at $9.33 on Tuesday. The company has a market capitalization 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 fifty-two week low of $1.87 and a fifty-two week high of $9.42. The business has a 50-day moving average of $3.14 and a 200-day moving average of $3.05.

Insider Activity

In other news, Chairman Mark J. Gergen sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total value of $278,100.00. Following the sale, the chairman now directly owns 651,291 shares of the company’s stock, 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 this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Trading of Poseida Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings in shares of Poseida Therapeutics by 53.4% during the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after buying an additional 297,500 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in Poseida Therapeutics during the 3rd quarter valued at $285,000. Vanguard Group Inc. boosted its holdings in Poseida Therapeutics by 16.3% in 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. Connor Clark & Lunn Investment Management Ltd. grew its position in Poseida Therapeutics by 62.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock worth $1,027,000 after purchasing an additional 138,510 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Poseida Therapeutics by 177.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 62,945 shares of the company’s stock worth $201,000 after purchasing an additional 40,245 shares during the period. Institutional investors own 46.87% of the company’s stock.

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.