Piper Sandler Downgrades Poseida Therapeutics (NASDAQ:PSTX) to Neutral

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Monday, MarketBeat reports. They currently have a $10.00 price objective on the stock. Piper Sandler’s price target indicates a potential upside of 7.18% from the stock’s previous close.

PSTX has been the topic of several other reports. HC Wainwright reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Cantor Fitzgerald lowered shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a research note 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Trading Up 0.1 %

Shares of NASDAQ PSTX opened at $9.33 on Monday. The company’s fifty day moving average is $3.50 and its 200-day moving average is $3.18. The stock has a market cap of $909.30 million, a price-to-earnings ratio of -14.81 and a beta of 1.64. Poseida Therapeutics has a twelve month low of $1.87 and a twelve month high of $9.42. 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 Transactions at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $9.27, for a total value of $278,100.00. Following the transaction, the chairman now owns 651,291 shares in the company, valued at approximately $6,037,467.57. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.

Institutional Trading of Poseida Therapeutics

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Poseida Therapeutics by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock worth $10,760,000 after acquiring an additional 473,746 shares during the period. Renaissance Technologies LLC increased its position in Poseida Therapeutics by 53.4% during the 2nd quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after purchasing an additional 297,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Poseida Therapeutics by 62.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock worth $1,027,000 after purchasing an additional 138,510 shares in the last quarter. Blair William & Co. IL increased its position in Poseida Therapeutics by 14.1% during the 2nd quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock worth $3,216,000 after purchasing an additional 136,273 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in Poseida Therapeutics in the 3rd quarter valued at approximately $369,000. Institutional investors 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.