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

Poseida Therapeutics (NASDAQ:PSTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $20.00 price objective on the stock.

Poseida Therapeutics Stock Performance

NASDAQ:PSTX opened at $3.08 on Friday. The company has a market cap of $299.16 million, a price-to-earnings ratio of -2.59 and a beta of 0.54. Poseida Therapeutics has a 1 year low of $1.87 and a 1 year high of $4.27. The stock’s 50 day simple moving average is $2.76 and its two-hundred day simple moving average is $2.87. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.48 and a quick ratio of 2.48.

Institutional Trading of Poseida Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSTX. Intech Investment Management LLC purchased a new stake in Poseida Therapeutics in the 3rd quarter valued at about $46,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 valued at $1,027,000 after acquiring an additional 138,510 shares in the last quarter. Privium Fund Management B.V. purchased a new stake in shares of Poseida Therapeutics in the third quarter valued at approximately $222,000. SG Americas Securities LLC bought a new position in Poseida Therapeutics in the third quarter worth approximately $70,000. Finally, Mackenzie Financial Corp purchased a new position in Poseida Therapeutics during the 2nd quarter worth $51,000. 46.87% of the stock is owned by hedge funds and other institutional investors.

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'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.