BTIG Research Reiterates “Neutral” Rating for Poseida Therapeutics (NASDAQ:PSTX)

Poseida Therapeutics (NASDAQ:PSTX)‘s stock had its “neutral” rating reiterated by research analysts at BTIG Research in a research report issued on Tuesday,Benzinga reports.

Several other research firms have also recently commented on PSTX. HC Wainwright reiterated a “neutral” rating and set a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday.

Poseida Therapeutics Stock Performance

Shares of NASDAQ PSTX traded up $6.52 during trading hours on Tuesday, hitting $9.38. 23,895,769 shares of the company’s stock were exchanged, compared to its average volume of 658,982. The company’s 50-day moving average price is $2.78 and its 200-day moving average price is $2.92. Poseida Therapeutics has a 1-year low of $1.87 and a 1-year high of $9.41. The stock has a market capitalization of $914.17 million, a price-to-earnings ratio of -14.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Poseida Therapeutics by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock valued at $10,760,000 after purchasing an additional 473,746 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Poseida Therapeutics by 89.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock valued at $2,648,000 after buying an additional 391,801 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Poseida Therapeutics by 53.4% during the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after buying an additional 297,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Poseida Therapeutics by 62.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock valued at $1,027,000 after acquiring an additional 138,510 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Poseida Therapeutics by 14.1% during the 2nd quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock worth $3,216,000 after acquiring an additional 136,273 shares during the last quarter. 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.