Poseida Therapeutics (NASDAQ:PSTX) Reaches New 1-Year High – Still a Buy?

Poseida Therapeutics, Inc. (NASDAQ:PSTX) shares reached a new 52-week high on Wednesday . The stock traded as high as $9.44 and last traded at $9.41, with a volume of 1396964 shares trading hands. The stock had previously closed at $9.33.

Wall Street Analysts Forecast Growth

PSTX has been the subject of a number of recent research reports. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. William Blair reaffirmed 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 price target (down previously from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Cantor Fitzgerald lowered Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler downgraded shares of Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Monday. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Stock Performance

The firm has a market capitalization of $912.23 million, a P/E ratio of -14.87 and a beta of 1.64. The stock has a fifty day moving average of $3.76 and a 200-day moving average of $3.27. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68.

Insider Activity

In other news, Chairman Mark J. Gergen sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total transaction of $278,100.00. Following the sale, the chairman now directly owns 651,291 shares in the company, valued at approximately $6,037,467.57. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Poseida Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PSTX. Vanguard Group Inc. grew its holdings in shares of Poseida Therapeutics by 16.3% during 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 in the last quarter. State Street Corp boosted its stake in Poseida Therapeutics by 2.3% during the third quarter. State Street Corp now owns 1,710,565 shares of the company’s stock worth $4,892,000 after acquiring an additional 38,770 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Poseida Therapeutics by 14.1% during the second quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock valued at $3,216,000 after acquiring an additional 136,273 shares in the last quarter. Renaissance Technologies LLC lifted its position in Poseida Therapeutics by 53.4% in the 2nd quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock valued at $2,496,000 after acquiring an additional 297,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Poseida Therapeutics by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock valued at $1,749,000 after buying an additional 9,672 shares during the period. 46.87% of the stock is owned by hedge funds and other 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.