Poseida Therapeutics (NASDAQ:PSTX) Stock Price Down 2.6%

Poseida Therapeutics, Inc. (NASDAQ:PSTX) shares dropped 2.6% during trading on Thursday . The company traded as low as $2.91 and last traded at $2.94. Approximately 215,283 shares traded hands during trading, a decline of 51% from the average daily volume of 437,179 shares. The stock had previously closed at $3.02.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Poseida Therapeutics in a research note on Wednesday, May 22nd.

Poseida Therapeutics Stock Down 2.6 %

The business has a fifty day moving average of $2.83 and a 200-day moving average of $3.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.56 and a quick ratio of 2.56. The stock has a market cap of $285.06 million, a PE ratio of -2.47 and a beta of 0.53.

Poseida Therapeutics (NASDAQ:PSTX) last posted its earnings results on Tuesday, May 14th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.18. The company had revenue of $28.14 million during the quarter, compared to analyst estimates of $11.25 million. Poseida Therapeutics had a negative return on equity of 97.36% and a negative net margin of 131.95%. Equities research analysts anticipate that Poseida Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Poseida Therapeutics

A number of large investors have recently made changes to their positions in the business. MCF Advisors LLC increased its position in shares of Poseida Therapeutics by 476.4% in the 4th quarter. MCF Advisors LLC now owns 247,024 shares of the company’s stock valued at $830,000 after acquiring an additional 204,170 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Poseida Therapeutics during the 4th quarter worth about $36,000. Tower Research Capital LLC TRC grew its position in Poseida Therapeutics by 110.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,679 shares of the company’s stock worth $36,000 after purchasing an additional 5,606 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in Poseida Therapeutics during the 4th quarter worth about $169,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Poseida Therapeutics during the 4th quarter worth about $76,000. 46.87% of the stock is owned by institutional investors and hedge funds.

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.