Poseida Therapeutics (NASDAQ:PSTX) Sets New 52-Week High – What’s Next?

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.48 and last traded at $9.44, with a volume of 903888 shares traded. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSTX. Cantor Fitzgerald downgraded shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler lowered shares of Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Monday, December 2nd. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. HC Wainwright reaffirmed a “neutral” rating and set a $9.00 price target (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Finally, William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Trading Up 0.9 %

The firm’s 50-day moving average price is $3.89 and its 200 day moving average price is $3.32. The company has a market capitalization of $920.07 million, a P/E ratio of -14.98 and a beta of 1.64. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68.

Insider Activity at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $9.27, for a total value of $278,100.00. Following the completion of the transaction, the chairman now owns 651,291 shares in the company, valued at $6,037,467.57. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PSTX. Marshall Wace LLP bought a new stake in shares of Poseida Therapeutics during the second quarter valued at about $31,000. Rothschild Investment LLC bought a new position in Poseida Therapeutics in the 2nd quarter valued at $35,000. Principal Financial Group Inc. bought a new position in Poseida Therapeutics in the 2nd quarter valued at $35,000. Virtu Financial LLC purchased a new position in shares of Poseida Therapeutics during the 3rd quarter valued at $37,000. Finally, Intech Investment Management LLC bought a new position in shares of Poseida Therapeutics in the third quarter worth $46,000. 46.87% of the stock is owned by 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.