HC Wainwright restated their neutral rating on shares of Poseida Therapeutics (NASDAQ:PSTX - Free Report) in a report released on Tuesday,Benzinga reports. HC Wainwright currently has a $9.00 price target on the stock, down from their prior price target of $20.00.
Poseida Therapeutics Price Performance
Poseida Therapeutics stock traded up $6.52 during midday trading on Tuesday, hitting $9.38. 30,118,490 shares of the company's stock were exchanged, compared to its average volume of 688,346. The stock has a 50-day moving average price of $2.78 and a two-hundred day moving average price of $2.92. 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 company has a market cap of $914.17 million, a P/E ratio of -14.89 and a beta of 0.54. Poseida Therapeutics has a 52-week low of $1.87 and a 52-week high of $9.41.
Hedge Funds Weigh In On Poseida Therapeutics
Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings 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 worth $83,000 after acquiring an additional 3,552 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Poseida Therapeutics by 4.2% during 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 in the last quarter. 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 stake in shares of Poseida Therapeutics by 1.6% in the second 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. Finally, Bayesian Capital Management LP bought a new stake in Poseida Therapeutics in the 1st quarter valued at $33,000. 46.87% of the stock is owned by institutional investors.
Poseida Therapeutics Company Profile
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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.
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