Poseida Therapeutics (NASDAQ:PSTX) Sets New 52-Week High - Here's What Happened

Poseida Therapeutics, Inc. (NASDAQ:PSTX - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $9.62 and last traded at $9.62, with a volume of 238 shares traded. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PSTX shares. BTIG Research reaffirmed a "neutral" rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. HC Wainwright restated a "neutral" rating and issued a $9.00 price target (down previously from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. William Blair reaffirmed a "market perform" rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Piper Sandler lowered shares of Poseida Therapeutics from an "overweight" rating to a "neutral" rating and set a $10.00 target price for the company. in a report on Monday, December 2nd. Finally, Cantor Fitzgerald cut shares of Poseida Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.50.

Poseida Therapeutics Trading Down 0.6 %

The stock has a fifty day simple moving average of $4.98 and a 200 day simple moving average of $3.68. The firm has a market capitalization of $922.99 million, a P/E ratio of -14.98 and a beta of 1.64. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68.

Insider Buying and Selling

In related news, Chairman Mark J. Gergen sold 30,000 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.46, for a total transaction of $283,800.00. Following the completion of the transaction, the chairman now directly owns 651,291 shares of the company's stock, valued at approximately $6,161,212.86. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Poseida Therapeutics

Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Poseida Therapeutics during the 2nd quarter valued at approximately $31,000. Principal Financial Group Inc. purchased a new stake in Poseida Therapeutics during the second quarter valued at $35,000. Rothschild Investment LLC bought a new position in Poseida Therapeutics during the second quarter valued at $35,000. Virtu Financial LLC purchased a new position in shares of Poseida Therapeutics in the 3rd quarter worth $37,000. Finally, Intech Investment Management LLC bought a new stake in shares of Poseida Therapeutics in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors 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.