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

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) saw unusually-strong trading volume on Thursday . Approximately 618,864 shares traded hands during trading, a decline of 16% from the previous session’s volume of 738,835 shares.The stock last traded at $9.46 and had previously closed at $9.60.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Cantor Fitzgerald cut Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Piper Sandler lowered Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Monday, December 2nd. HC Wainwright reaffirmed a “neutral” rating and issued a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Finally, William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Five equities 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 Trading Up 1.3 %

The firm has a market cap of $930.81 million, a PE ratio of -15.11 and a beta of 1.64. The firm has a fifty day simple moving average of $6.66 and a two-hundred day simple moving average of $4.23. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68.

Insider Activity at Poseida Therapeutics

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

Institutional Trading of Poseida Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PSTX. Fred Alger Management LLC bought a new position in shares of Poseida Therapeutics in the 3rd quarter worth approximately $369,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Poseida Therapeutics by 62.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock worth $1,027,000 after purchasing an additional 138,510 shares during the period. Renaissance Technologies LLC raised its holdings in Poseida Therapeutics by 53.4% in 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 in the last quarter. Advantage Alpha Capital Partners LP purchased a new position in Poseida Therapeutics during the third quarter valued at $285,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Poseida Therapeutics by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 567,063 shares of the company’s stock valued at $1,622,000 after buying an additional 21,255 shares in the last quarter. 46.87% of the stock is currently 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.