Fred Alger Management LLC Makes New $369,000 Investment in Poseida Therapeutics, Inc. (NASDAQ:PSTX)

Fred Alger Management LLC bought a new position in shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 128,970 shares of the company’s stock, valued at approximately $369,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 purchasing an additional 473,746 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Poseida Therapeutics by 53.4% during the 2nd quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock valued at $2,496,000 after buying an additional 297,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Poseida Therapeutics by 62.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock valued at $1,027,000 after buying an additional 138,510 shares in the last quarter. Blair William & Co. IL grew its position in shares of Poseida Therapeutics by 14.1% in the 2nd quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock worth $3,216,000 after buying an additional 136,273 shares during the period. Finally, Advantage Alpha Capital Partners LP purchased a new position in Poseida Therapeutics during the 3rd quarter valued at about $285,000. Institutional investors own 46.87% of the company’s stock.

Poseida Therapeutics Price Performance

Shares of NASDAQ PSTX opened at $9.31 on Monday. The firm has a market cap of $907.40 million, a P/E ratio of -14.78 and a beta of 0.54. Poseida Therapeutics, Inc. has a twelve month low of $1.87 and a twelve month high of $9.42. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $3.25 and a 200 day moving average of $3.10.

Insiders Place Their Bets

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction that occurred on 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 sale, the chairman now directly owns 651,291 shares in the company, valued at $6,037,467.57. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

PSTX has been the subject of a number of analyst reports. Cantor Fitzgerald downgraded shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. HC Wainwright reissued a “neutral” rating and issued a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Poseida Therapeutics presently has an average rating of “Hold” and an average price target of $9.50.

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.