Zacks Investment Research Downgrades Poseida Therapeutics (NASDAQ:PSTX) to Hold

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Poseida Therapeutics Inc. is a clinical-stage biopharmaceutical company. It focuses on developing therapeutics for high unmet medical needs. The company is developing a pipeline of solutions for the treatment of hematological malignancies and solid tumors, as well as vivo programs for liver-directed gene therapies for rare diseases. In addition, it offers CAR-T therapies for the treatment for cancer. Poseida Therapeutics Inc. is based in San Diego, California. “

A number of other equities research analysts have also weighed in on the stock. Piper Sandler boosted their price objective on shares of Poseida Therapeutics from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, October 12th. William Blair reissued an “outperform” rating on shares of Poseida Therapeutics in a report on Friday, August 13th.

Shares of PSTX opened at $7.18 on Wednesday. The firm has a market capitalization of $448.79 million, a PE ratio of -2.74 and a beta of -0.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.44 and a quick ratio of 7.51. Poseida Therapeutics has a 1-year low of $6.20 and a 1-year high of $13.98. The company’s fifty day moving average price is $6.92 and its 200-day moving average price is $8.15.

Poseida Therapeutics (NASDAQ:PSTX) last announced its quarterly earnings data on Tuesday, November 9th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.06. As a group, research analysts anticipate that Poseida Therapeutics will post -2.47 EPS for the current fiscal year.

In other news, Director Life Sciences Holdings L. Malin bought 27,680 shares of the stock in a transaction dated Tuesday, November 16th. The shares were acquired at an average cost of $7.17 per share, with a total value of $198,465.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Life Sciences Holdings L. Malin bought 14,625 shares of the stock in a transaction dated Tuesday, November 23rd. The shares were purchased at an average cost of $6.77 per share, for a total transaction of $99,011.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 115,617 shares of company stock worth $823,497 and sold 78,953 shares worth $597,575. 44.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in shares of Poseida Therapeutics by 48.1% during the 2nd quarter. Northern Trust Corp now owns 245,069 shares of the company’s stock worth $2,456,000 after purchasing an additional 79,644 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Poseida Therapeutics in the 2nd quarter valued at about $167,000. Bank of New York Mellon Corp raised its holdings in Poseida Therapeutics by 113.3% in the 1st quarter. Bank of New York Mellon Corp now owns 63,100 shares of the company’s stock valued at $603,000 after acquiring an additional 33,519 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in Poseida Therapeutics in the 2nd quarter valued at about $243,000. Finally, Rhumbline Advisers raised its holdings in Poseida Therapeutics by 37.5% in the 2nd quarter. Rhumbline Advisers now owns 30,461 shares of the company’s stock valued at $305,000 after acquiring an additional 8,301 shares during the last quarter. Hedge funds and other institutional investors own 44.72% of the company’s stock.

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.

See Also: Book Value Per Share – BVPS

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