Poseida Therapeutics (NASDAQ:PSTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $20.00 price objective on the stock.

Poseida Therapeutics Stock Performance

Shares of Poseida Therapeutics stock opened at $2.38 on Wednesday. Poseida Therapeutics has a 12 month low of $1.87 and a 12 month high of $4.27. The stock’s fifty day moving average price is $2.78 and its 200-day moving average price is $2.85. The firm has a market cap of $231.18 million, a P/E ratio of -2.00 and a beta of 0.51. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.97.

Poseida Therapeutics (NASDAQ:PSTX) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. The firm had revenue of $25.97 million during the quarter, compared to analysts’ expectations of $13.75 million. Poseida Therapeutics had a negative return on equity of 121.01% and a negative net margin of 127.48%. On average, equities research analysts expect that Poseida Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Poseida Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Poseida Therapeutics during the first quarter worth $110,000. Blair William & Co. IL raised its stake in Poseida Therapeutics by 41.3% in the first quarter. Blair William & Co. IL now owns 965,052 shares of the company’s stock valued at $3,079,000 after buying an additional 282,310 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Poseida Therapeutics by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock worth $10,760,000 after acquiring an additional 473,746 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Poseida Therapeutics by 280.3% during the first quarter. Lazard Asset Management LLC now owns 28,679 shares of the company’s stock worth $91,000 after acquiring an additional 21,138 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Poseida Therapeutics by 177.3% during the first quarter. Public Employees Retirement System of Ohio now owns 62,945 shares of the company’s stock valued at $201,000 after acquiring an additional 40,245 shares in the last quarter. Hedge funds and other institutional investors own 46.87% of the company’s stock.

About Poseida Therapeutics

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.