Poseida Therapeutics (NASDAQ:PSTX) had its price target boosted by analysts at Piper Sandler from $17.00 to $19.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 187.88% from the company’s current price.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Poseida Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 18th. William Blair reiterated an “outperform” rating on shares of Poseida Therapeutics in a research report on Friday, August 13th.
PSTX stock opened at $6.60 on Tuesday. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $8.19 and its 200 day moving average is $8.64. The stock has a market cap of $411.44 million, a price-to-earnings ratio of -2.57 and a beta of -0.93. Poseida Therapeutics has a 1-year low of $6.27 and a 1-year high of $13.98.
In related news, insider Matthew A. Spear sold 4,000 shares of the firm’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $8.79, for a total value of $35,160.00. Following the completion of the sale, the insider now owns 45,485 shares of the company’s stock, valued at $399,813.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Ostertag sold 20,029 shares of the firm’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $7.02, for a total value of $140,603.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,029 shares of company stock valued at $498,564. Insiders own 44.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PSTX. Rhumbline Advisers lifted its stake in Poseida Therapeutics by 114.3% in the first quarter. Rhumbline Advisers now owns 22,160 shares of the company’s stock worth $212,000 after acquiring an additional 11,818 shares during the period. BlackRock Inc. lifted its stake in Poseida Therapeutics by 82.5% in the first quarter. BlackRock Inc. now owns 2,826,556 shares of the company’s stock worth $26,994,000 after acquiring an additional 1,278,113 shares during the period. Russell Investments Group Ltd. purchased a new stake in Poseida Therapeutics in the first quarter worth $144,000. New York State Common Retirement Fund raised its holdings in Poseida Therapeutics by 71.1% in the first quarter. New York State Common Retirement Fund now owns 20,700 shares of the company’s stock worth $198,000 after purchasing an additional 8,600 shares in the last quarter. Finally, UBS Group AG raised its holdings in Poseida Therapeutics by 9.0% in the first quarter. UBS Group AG now owns 117,782 shares of the company’s stock worth $1,125,000 after purchasing an additional 9,706 shares in the last quarter. 44.77% of the stock is 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 is developing P-BCMA-101, an autologous chimeric antigen receptor T cell (CAR-T) targeting B cell maturation antigen that is in Phase II clinical trial; P-PSMA-101, an autologous CAR-T product candidate for the treatment of patients with metastatic castrate resistant prostate cancer (mCRPC) is in Phase I clinical trials; P-BCMA-ALLO1, an allogeneic CAR-T product candidate to treat relapsed/refractory multiple myeloma patients; P-MUC1C-ALLO1, an allogeneic CAR-T product candidate for multiple solid tumor indications; and P-PSMA-ALLO1, an allogeneic CAR-T product candidate for treating mCRPC.
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