Poseida Therapeutics (NASDAQ:PSTX) Hits New 52-Week High – Should You Buy?

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) hit a new 52-week high on Tuesday . The stock 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.

Wall Street Analyst Weigh In

PSTX has been the topic of several recent research reports. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Piper Sandler cut shares of 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. HC Wainwright reiterated a “neutral” rating and set a $9.00 price target (down from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Cantor Fitzgerald cut shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, William Blair restated a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Poseida Therapeutics Stock Up 1.3 %

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 stock has a market capitalization of $938.63 million, a PE ratio of -15.24 and a beta of 1.64. The company has a 50 day moving average price of $6.38 and a 200-day moving average price of $4.15.

Insider Buying and Selling at Poseida Therapeutics

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.46, for a total transaction of $283,800.00. Following the sale, the chairman now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

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