Poseida Therapeutics (NASDAQ:PSTX) Sets New 1-Year High – Here’s Why

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) hit a new 52-week high on Wednesday . The company traded as high as $9.62 and last traded at $9.62, with a volume of 238 shares trading hands. The stock had previously closed at $9.50.

Wall Street Analyst Weigh In

PSTX has been the subject of a number of research reports. BTIG Research reaffirmed a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. William Blair reiterated a “market perform” 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 report on Tuesday, November 26th. Piper Sandler cut shares of Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald downgraded shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Poseida Therapeutics presently has an average rating of “Hold” and an average target price of $9.50.

Poseida Therapeutics Trading Up 0.1 %

The business’s 50-day simple moving average is $4.84 and its two-hundred day simple moving average is $3.64. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $929.83 million, a price-to-earnings ratio of -15.08 and a beta of 1.64.

Insiders Place Their Bets

In related news, Chairman Mark J. Gergen sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $9.46, for a total transaction of $283,800.00. Following the sale, the chairman now directly owns 651,291 shares of the company’s stock, valued at $6,161,212.86. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Poseida Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC acquired a new stake in Poseida Therapeutics in the third quarter valued at $369,000. Connor Clark & Lunn Investment Management Ltd. increased 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 valued at $1,027,000 after acquiring an additional 138,510 shares during the period. Renaissance Technologies LLC raised its stake in Poseida Therapeutics by 53.4% during the 2nd 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 last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Poseida Therapeutics during the 3rd quarter worth approximately $285,000. Finally, Charles Schwab Investment Management Inc. grew its position in Poseida Therapeutics by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 567,063 shares of the company’s stock valued at $1,622,000 after buying an additional 21,255 shares during the last quarter. 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.