Poseida Therapeutics (NASDAQ:PSTX) Downgraded by Cantor Fitzgerald to Hold

Cantor Fitzgerald lowered shares of Poseida Therapeutics (NASDAQ:PSTX) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. William Blair reaffirmed a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday. HC Wainwright reiterated a “neutral” rating and set a $9.00 target price (down previously from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday. Finally, BTIG Research reissued a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Poseida Therapeutics Price Performance

Shares of NASDAQ PSTX opened at $9.38 on Tuesday. The stock’s 50-day simple moving average is $2.90 and its 200-day simple moving average is $2.97. The firm has a market capitalization of $914.17 million, a PE ratio of -14.89 and a beta of 0.54. Poseida Therapeutics has a fifty-two week low of $1.87 and a fifty-two week high of $9.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20.

Institutional Investors Weigh In On Poseida Therapeutics

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in Poseida Therapeutics by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,520 shares of the company’s stock valued at $83,000 after acquiring an additional 3,552 shares during the period. Rhumbline Advisers grew its stake in shares of Poseida Therapeutics by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 97,012 shares of the company’s stock valued at $283,000 after purchasing an additional 3,875 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Poseida Therapeutics by 5.9% in the second quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock valued at $264,000 after purchasing an additional 5,023 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Poseida Therapeutics by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after purchasing an additional 9,672 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Poseida Therapeutics during the first quarter worth $33,000. Institutional investors and hedge funds 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.