Poseida Therapeutics (NASDAQ:PSTX) Reaches New 52-Week High – Here’s Why

Poseida Therapeutics, Inc. (NASDAQ:PSTX) shares hit a new 52-week high on Tuesday . The company traded as high as $9.36 and last traded at $9.36, with a volume of 7608966 shares changing hands. The stock had previously closed at $2.86.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “neutral” rating and issued a $9.00 price target (down from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday.

Poseida Therapeutics Stock Performance

The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $905.40 million, a PE ratio of -4.54 and a beta of 0.54. The firm’s fifty day moving average price is $2.78 and its 200 day moving average price is $2.92.

Institutional Investors Weigh In On Poseida Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Poseida Therapeutics during the 3rd quarter worth $37,000. Barclays PLC increased its position in Poseida Therapeutics by 132.7% during the third quarter. Barclays PLC now owns 120,464 shares of the company’s stock worth $345,000 after buying an additional 68,688 shares during the last quarter. XTX Topco Ltd raised its holdings in Poseida Therapeutics by 47.1% during the third quarter. XTX Topco Ltd now owns 182,888 shares of the company’s stock valued at $523,000 after buying an additional 58,587 shares in the last quarter. State Street Corp lifted its position in shares of Poseida Therapeutics by 2.3% in the third quarter. State Street Corp now owns 1,710,565 shares of the company’s stock worth $4,892,000 after buying an additional 38,770 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of Poseida Therapeutics in the third quarter worth about $369,000. 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.