Poseida Therapeutics (NASDAQ:PSTX) Hits New 12-Month High – What’s Next?

Poseida Therapeutics, Inc. (NASDAQ:PSTX)’s stock price hit a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

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

Poseida Therapeutics Stock Up 0.8 %

The stock’s 50 day simple moving average is $5.96 and its 200 day simple moving average is $4.02. The stock has a market capitalization of $934.72 million, a P/E 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.

Insider Transactions at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total transaction 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 represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Poseida Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Poseida Therapeutics by 53.4% in the 2nd 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. Connor Clark & Lunn Investment Management Ltd. raised its stake in Poseida Therapeutics by 62.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock worth $1,027,000 after acquiring an additional 138,510 shares during the period. Blair William & Co. IL boosted its stake in 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 during the period. Fred Alger Management LLC bought a new position in shares of Poseida Therapeutics during the third quarter valued at approximately $369,000. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Poseida Therapeutics during the 3rd quarter worth approximately $285,000. 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.