Cantor Fitzgerald Downgrades Poseida Therapeutics (NASDAQ:PSTX) to Hold

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by equities research analysts at Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. HC Wainwright reissued a “neutral” rating and set a $9.00 price objective (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday. BTIG Research reissued a “neutral” rating on shares of Poseida Therapeutics in a research note on Tuesday. Finally, William Blair reaffirmed a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Trading Down 0.5 %

Shares of PSTX opened at $9.33 on Tuesday. 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 firm has a 50 day simple moving average of $3.02 and a 200-day simple moving average of $3.01. Poseida Therapeutics has a 1-year low of $1.87 and a 1-year high of $9.42. The stock has a market cap of $909.35 million, a price-to-earnings ratio of -14.81 and a beta of 0.54.

Insiders Place Their Bets

In other news, Chairman Mark J. Gergen sold 30,000 shares of the business’s 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 directly owns 651,291 shares of the company’s stock, valued at $6,037,467.57. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Poseida Therapeutics

Several institutional investors have recently made changes to their positions in PSTX. Marshall Wace LLP purchased a new stake in shares of Poseida Therapeutics during the 2nd quarter valued at $31,000. Bayesian Capital Management LP purchased a new stake in shares of Poseida Therapeutics during the 1st quarter valued at $33,000. Rothschild Investment LLC purchased a new stake in shares of Poseida Therapeutics during the 2nd quarter valued at $35,000. Principal Financial Group Inc. purchased a new stake in shares of Poseida Therapeutics during the 2nd quarter valued at $35,000. Finally, Virtu Financial LLC purchased a new stake in shares of Poseida Therapeutics during the 3rd quarter valued at $37,000. 46.87% of the stock is owned by hedge funds and other institutional investors.

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.