Poseida Therapeutics (NASDAQ:PSTX) Reaches New 12-Month High – Here’s Why

Poseida Therapeutics, Inc. (NASDAQ:PSTX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.66 and last traded at $9.66, with a volume of 464888 shares. The stock had previously closed at $9.56.

Analyst Ratings Changes

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

Poseida Therapeutics Stock Down 0.6 %

The firm has a market capitalization of $928.85 million, a PE ratio of -15.08 and a beta of 1.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20. The business’s 50 day moving average price is $7.09 and its 200-day moving average price is $4.39.

Insider Transactions at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.46, for a total value of $283,800.00. Following the completion of the transaction, the chairman now directly owns 651,291 shares in the company, valued at approximately $6,161,212.86. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Poseida Therapeutics

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Poseida Therapeutics by 108.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,948 shares of the company’s stock valued at $180,000 after buying an additional 32,785 shares in the last quarter. Virtu Financial LLC acquired a new position in Poseida Therapeutics in the third quarter valued at $37,000. Barclays PLC grew its holdings in shares of 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 purchasing an additional 68,688 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Poseida Therapeutics by 47.1% during the third quarter. XTX Topco Ltd now owns 182,888 shares of the company’s stock worth $523,000 after purchasing an additional 58,587 shares during the last quarter. Finally, State Street Corp increased its position in shares of Poseida Therapeutics by 2.3% during the third quarter. State Street Corp now owns 1,710,565 shares of the company’s stock worth $4,892,000 after purchasing an additional 38,770 shares in the last quarter. 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.