Poseida Therapeutics (NASDAQ:PSTX) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a research note issued to investors on Friday,Benzinga reports. They currently have a $20.00 price target on the stock.

Poseida Therapeutics Price Performance

PSTX traded down $0.45 on Friday, reaching $2.76. 702,037 shares of the company’s stock were exchanged, compared to its average volume of 564,758. Poseida Therapeutics has a twelve month low of $1.87 and a twelve month high of $4.27. The stock has a market cap of $268.99 million, a PE ratio of -4.38 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. The stock’s fifty day moving average price is $2.81 and its 200-day moving average price is $2.92.

Institutional Trading of Poseida Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 473,746 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Poseida Therapeutics by 89.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock valued at $2,648,000 after acquiring an additional 391,801 shares during the last quarter. Renaissance Technologies LLC grew its position in Poseida Therapeutics by 53.4% in the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after acquiring an additional 297,500 shares during the period. Blair William & Co. IL increased its stake in Poseida Therapeutics by 41.3% during the first quarter. Blair William & Co. IL now owns 965,052 shares of the company’s stock worth $3,079,000 after acquiring an additional 282,310 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Poseida Therapeutics by 62.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock valued at $1,027,000 after purchasing an additional 138,510 shares during the period. 46.87% of the stock is owned by institutional investors and hedge funds.

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.