Poseida Therapeutics (NASDAQ:PSTX) Sees Strong Trading Volume – Time to Buy?

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) saw unusually-high trading volume on Wednesday . Approximately 1,369,646 shares changed hands during mid-day trading, an increase of 98% from the previous session’s volume of 690,418 shares.The stock last traded at $9.39 and had previously closed at $9.38.

Analyst Ratings Changes

PSTX has been the subject of several research reports. 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. William Blair reaffirmed a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday. Cantor Fitzgerald lowered Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, BTIG Research reissued a “neutral” rating on shares of Poseida Therapeutics in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Poseida Therapeutics Price Performance

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 business’s 50-day moving average is $2.90 and its two-hundred day moving average is $2.97. The company has a market capitalization of $910.32 million, a P/E ratio of -14.89 and a beta of 0.54.

Institutional Trading of Poseida Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings 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 worth $10,760,000 after buying an additional 473,746 shares during the last quarter. State Street Corp lifted its position in shares of Poseida Therapeutics by 2.3% during the 3rd quarter. State Street Corp now owns 1,710,565 shares of the company’s stock valued at $4,892,000 after buying an additional 38,770 shares during the last quarter. Blair William & Co. IL increased its holdings in 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 acquiring an additional 136,273 shares during the last quarter. Renaissance Technologies LLC boosted its position in 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 purchasing an additional 297,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Poseida Therapeutics by 89.4% during 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 during the period. 46.87% of the stock is currently owned by institutional investors.

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.