Poseida Therapeutics (NASDAQ:PSTX) Hits New 1-Year High – Should You Buy?

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

Analyst Upgrades and Downgrades

PSTX has been the subject of several analyst reports. HC Wainwright reiterated a “neutral” rating and issued a $9.00 price objective (down from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. William Blair restated a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Cantor Fitzgerald downgraded Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler downgraded Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Monday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20. The stock has a market capitalization of $917.10 million, a PE ratio of -14.94 and a beta of 1.64. The business has a 50 day moving average of $3.63 and a two-hundred day moving average of $3.23.

Insider Activity

In other news, Chairman Mark J. Gergen sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total value of $278,100.00. Following the transaction, the chairman now owns 651,291 shares in the company, valued at $6,037,467.57. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction 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.

Institutional Trading of Poseida Therapeutics

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 valued at $10,760,000 after purchasing an additional 473,746 shares during the last quarter. State Street Corp raised its stake in 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 acquiring an additional 38,770 shares during the last quarter. Blair William & Co. IL raised its stake 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 valued at $3,216,000 after acquiring an additional 136,273 shares during the last quarter. Renaissance Technologies LLC raised its stake in 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 acquiring an additional 297,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 9,672 shares during the last quarter. 46.87% of the stock is owned by hedge funds and other institutional investors.

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.