Poseida Therapeutics (NASDAQ:PSTX) Sees Strong Trading Volume – What’s Next?

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) saw an uptick in trading volume on Thursday . 618,864 shares were traded during trading, a decline of 16% from the previous session’s volume of 738,835 shares.The stock last traded at $9.46 and had previously closed at $9.60.

Analyst Ratings Changes

Several research analysts have recently commented on PSTX shares. Piper Sandler downgraded 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. William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Cantor Fitzgerald downgraded Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $9.00 price target (down previously from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Poseida Therapeutics has an average rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Trading Down 2.0 %

The stock has a market cap of $920.05 million, a P/E ratio of -14.94 and a beta of 1.64. The stock’s 50-day moving average is $6.38 and its two-hundred day moving average is $4.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20.

Insider Buying and Selling

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.46, for a total transaction of $283,800.00. Following the sale, the chairman now owns 651,291 shares of the company’s stock, valued at approximately $6,161,212.86. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Poseida Therapeutics

A number of large investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in Poseida Therapeutics in the 2nd quarter valued at about $31,000. Principal Financial Group Inc. purchased a new position in Poseida Therapeutics during the 2nd quarter worth $35,000. Rothschild Investment LLC purchased a new stake in Poseida Therapeutics during the 2nd quarter valued at approximately $35,000. Virtu Financial LLC acquired a new stake in shares of Poseida Therapeutics during the third quarter worth $37,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Poseida Therapeutics in the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 46.87% 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'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.