Fred Alger Management LLC Makes New $369,000 Investment in Poseida Therapeutics, Inc. (NASDAQ:PSTX)

Fred Alger Management LLC purchased a new stake in Poseida Therapeutics, Inc. (NASDAQ:PSTX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 128,970 shares of the company's stock, valued at approximately $369,000. Fred Alger Management LLC owned 0.13% of Poseida Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSTX. The Manufacturers Life Insurance Company raised its stake in shares of Poseida Therapeutics by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,520 shares of the company's stock valued at $83,000 after acquiring 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 worth $283,000 after buying an additional 3,875 shares during the period. American Century Companies Inc. boosted its position in shares of Poseida Therapeutics by 5.9% in the second quarter. American Century Companies Inc. now owns 90,487 shares of the company's stock worth $264,000 after buying an additional 5,023 shares during the period. Dimensional Fund Advisors LP raised 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. Finally, Marshall Wace LLP purchased a new position in Poseida Therapeutics in the 2nd quarter worth approximately $31,000. 46.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler cut shares of Poseida Therapeutics from an "overweight" rating to a "neutral" rating and set a $10.00 target price on the stock. in a research report on Monday. HC Wainwright reiterated a "neutral" rating and issued a $9.00 price objective (down previously from $20.00) on shares of Poseida Therapeutics in a report 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. William Blair reiterated a "market perform" rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Finally, BTIG Research restated a "neutral" rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $9.50.

Insider Activity at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of the 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 in the company, valued at $6,037,467.57. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.90% of the company's stock.

Poseida Therapeutics Stock Up 0.1 %

NASDAQ:PSTX traded up $0.01 during mid-day trading on Monday, reaching $9.32. The stock had a trading volume of 3,210,604 shares, compared to its average volume of 714,519. The stock's 50 day simple moving average is $3.25 and its two-hundred day simple moving average is $3.10. Poseida Therapeutics, Inc. has a 1-year low of $1.87 and a 1-year high of $9.42. The company has a market capitalization of $908.37 million, a price-to-earnings ratio of -14.79 and a beta of 0.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20.

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.