Poseida Therapeutics (NASDAQ:PSTX) Sees Strong Trading Volume - What's Next?

Poseida Therapeutics, Inc. (NASDAQ:PSTX - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 618,864 shares were traded 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 brokerages recently issued reports on PSTX. BTIG Research reiterated a "neutral" rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Piper Sandler lowered Poseida Therapeutics from an "overweight" rating to a "neutral" rating and set a $10.00 target price for the company. in a research note on Monday, December 2nd. Cantor Fitzgerald cut Poseida Therapeutics from a "strong-buy" rating to a "hold" rating in a report 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, HC Wainwright restated 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. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.50.

Poseida Therapeutics Price Performance

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 business has a fifty day moving average of $6.38 and a 200 day moving average of $4.15. The stock has a market cap of $919.08 million, a PE ratio of -14.92 and a beta of 1.64.

Insider Transactions at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.46, for a total value of $283,800.00. Following the sale, the chairman now owns 651,291 shares in the company, valued at approximately $6,161,212.86. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company's stock.

Institutional Trading of Poseida Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of Poseida Therapeutics during the second quarter worth $31,000. Principal Financial Group Inc. acquired a new stake in Poseida Therapeutics during the second quarter worth about $35,000. Rothschild Investment LLC bought a new position in Poseida Therapeutics in the second quarter worth about $35,000. Virtu Financial LLC acquired a new position in Poseida Therapeutics in the third quarter valued at approximately $37,000. Finally, Intech Investment Management LLC bought a new position in shares of Poseida Therapeutics during the third quarter valued at approximately $46,000. 46.87% of the stock is owned by institutional investors.

Poseida Therapeutics Company Profile

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.