Wellington Management Group LLP Reduces Position in Poseida Therapeutics, Inc. (NASDAQ:PSTX)

Wellington Management Group LLP reduced its stake in shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX - Free Report) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,363 shares of the company's stock after selling 78,968 shares during the period. Wellington Management Group LLP owned 0.32% of Poseida Therapeutics worth $882,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Fred Alger Management LLC bought a new stake in Poseida Therapeutics during the 3rd quarter worth approximately $369,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 297,500 shares during the period. Advantage Alpha Capital Partners LP purchased a new position in shares of Poseida Therapeutics during the 3rd quarter valued at $285,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Poseida Therapeutics by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 567,063 shares of the company's stock worth $1,622,000 after buying an additional 21,255 shares during the period. 46.87% of the stock is currently owned by institutional investors.

Poseida Therapeutics Price Performance

Shares of NASDAQ PSTX traded up $0.04 during midday trading on Friday, reaching $9.45. 2,107,444 shares of the stock traded hands, compared to its average volume of 738,410. The company's 50 day moving average is $5.12 and its 200 day moving average is $3.72. Poseida Therapeutics, Inc. has a one year low of $1.87 and a one year high of $9.58. 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 capitalization of $923.96 million, a PE ratio of -15.00 and a beta of 1.64.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.46, for a total value of $283,800.00. Following the completion of the transaction, the chairman now owns 651,291 shares in the company, valued at approximately $6,161,212.86. The trade was a 4.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

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.