Poseida Therapeutics (NASDAQ:PSTX) Reaches New 52-Week High – Here’s What Happened

Poseida Therapeutics, Inc. (NASDAQ:PSTX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $9.62 and last traded at $9.62, with a volume of 238 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PSTX shares. BTIG Research reaffirmed a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. HC Wainwright restated a “neutral” rating and set a $9.00 price target (down previously from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Cantor Fitzgerald downgraded shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler downgraded Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Monday, December 2nd. Finally, William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Poseida Therapeutics has a consensus rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Price Performance

The firm’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $3.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20. The stock has a market cap of $920.05 million, a PE ratio of -14.94 and a beta of 1.64.

Insider Activity at Poseida Therapeutics

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.46, for a total transaction of $283,800.00. Following the sale, the chairman now owns 651,291 shares in the company, valued at $6,161,212.86. This 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 at this link. 2.90% of the stock is owned by company insiders.

Institutional Trading of Poseida Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake 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 worth $83,000 after purchasing an additional 3,552 shares during the period. Rhumbline Advisers boosted its position in shares of Poseida Therapeutics by 4.2% in the second quarter. Rhumbline Advisers now owns 97,012 shares of the company’s stock valued at $283,000 after acquiring an additional 3,875 shares during the period. American Century Companies Inc. grew its stake in Poseida Therapeutics by 5.9% during the second quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock valued at $264,000 after acquiring an additional 5,023 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Poseida Therapeutics by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after acquiring an additional 9,672 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Poseida Therapeutics in the 2nd quarter worth approximately $31,000. 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.