HC Wainwright Reiterates Neutral Rating for Poseida Therapeutics (NASDAQ:PSTX)

Poseida Therapeutics (NASDAQ:PSTX)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $9.00 target price on the stock, down from their prior target price of $20.00. HC Wainwright’s target price would indicate a potential downside of 3.54% from the company’s current price.

Poseida Therapeutics Stock Down 0.5 %

NASDAQ PSTX opened at $9.33 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68. Poseida Therapeutics has a 52 week low of $1.87 and a 52 week high of $9.42. The firm has a market capitalization of $909.35 million, a price-to-earnings ratio of -14.81 and a beta of 0.54. The company has a fifty day moving average of $3.02 and a two-hundred day moving average of $3.01.

Insider Activity

In related news, Chairman Mark J. Gergen sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total transaction of $278,100.00. Following the transaction, the chairman now directly owns 651,291 shares of the company’s stock, valued at $6,037,467.57. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Poseida Therapeutics

A number of large investors have recently bought and sold shares of PSTX. Russell Investments Group Ltd. purchased a new position in shares of Poseida Therapeutics during the 1st quarter valued at about $110,000. Vanguard Group Inc. grew its holdings in Poseida Therapeutics by 16.3% during the first quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock worth $10,760,000 after acquiring an additional 473,746 shares during the period. Lazard Asset Management LLC grew its holdings in Poseida Therapeutics by 280.3% during the first quarter. Lazard Asset Management LLC now owns 28,679 shares of the company’s stock worth $91,000 after acquiring an additional 21,138 shares during the period. Public Employees Retirement System of Ohio raised its position in Poseida Therapeutics by 177.3% during the first quarter. Public Employees Retirement System of Ohio now owns 62,945 shares of the company’s stock valued at $201,000 after acquiring an additional 40,245 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Poseida Therapeutics in the first quarter valued at approximately $33,000. Hedge funds and other 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.