Poseida Therapeutics (NASDAQ:PSTX) Reaches New 1-Year High - Still a Buy?

Poseida Therapeutics, Inc. (NASDAQ:PSTX - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.48 and last traded at $9.44, with a volume of 903888 shares trading hands. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

PSTX has been the subject of several analyst reports. Cantor Fitzgerald downgraded 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 target price for the company. in a research report on Monday, December 2nd. HC Wainwright reaffirmed a "neutral" rating and issued a $9.00 price objective (down previously from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. William Blair restated a "market perform" rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $9.50.

Poseida Therapeutics Stock Performance

The firm's fifty day simple moving average is $4.02 and its 200 day simple moving average is $3.36. The company has a market capitalization of $921.04 million, a price-to-earnings ratio of -15.06 and a beta of 1.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20.

Insider Activity at Poseida Therapeutics

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

Institutional Trading of Poseida Therapeutics

A number of institutional investors have recently bought and sold shares of PSTX. Virtu Financial LLC acquired a new stake in Poseida Therapeutics in the third quarter valued at approximately $37,000. Barclays PLC raised its holdings in shares of Poseida Therapeutics by 132.7% during the 3rd quarter. Barclays PLC now owns 120,464 shares of the company's stock valued at $345,000 after purchasing an additional 68,688 shares in the last quarter. XTX Topco Ltd boosted its position in Poseida Therapeutics by 47.1% during the third quarter. XTX Topco Ltd now owns 182,888 shares of the company's stock worth $523,000 after purchasing an additional 58,587 shares during the period. State Street Corp grew its holdings in Poseida Therapeutics by 2.3% during the third quarter. State Street Corp now owns 1,710,565 shares of the company's stock valued at $4,892,000 after purchasing an additional 38,770 shares during the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of Poseida Therapeutics in the third quarter valued at approximately $369,000. Institutional investors and hedge funds own 46.87% of the company's stock.

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.