Poseida Therapeutics (NASDAQ:PSTX) Hits New 12-Month High - Here's Why

Poseida Therapeutics, Inc. (NASDAQ:PSTX - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.60 and last traded at $9.57, with a volume of 470167 shares changing hands. The stock had previously closed at $9.48.

Analyst Ratings Changes

PSTX has been the topic of several recent research reports. BTIG Research reaffirmed a "neutral" rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. HC Wainwright restated a "neutral" rating and set a $9.00 price objective (down previously from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Piper Sandler lowered 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. Cantor Fitzgerald cut Poseida Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Finally, William Blair reiterated a "market perform" 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, According to MarketBeat, Poseida Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $9.50.

Poseida Therapeutics Trading Up 1.3 %

The firm has a 50-day moving average of $6.24 and a two-hundred day moving average of $4.11. The firm has a market capitalization of $938.63 million, a P/E ratio of -15.24 and a beta of 1.64. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68.

Insider Transactions at Poseida Therapeutics

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of the business'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 sale, the chairman now owns 651,291 shares of the company's stock, valued at approximately $6,161,212.86. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Poseida Therapeutics

Several hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of Poseida Therapeutics during the second quarter valued at about $31,000. Rothschild Investment LLC acquired a new stake in Poseida Therapeutics during the 2nd quarter worth approximately $35,000. Principal Financial Group Inc. bought a new stake in Poseida Therapeutics during the 2nd quarter worth approximately $35,000. Virtu Financial LLC acquired a new position in Poseida Therapeutics in the 3rd quarter valued at approximately $37,000. Finally, Intech Investment Management LLC acquired a new position in Poseida Therapeutics in the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 46.87% of the company's stock.

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.