Poseida Therapeutics (NASDAQ:PSTX) Hits New 12-Month High – Should You Buy?

Poseida Therapeutics, Inc. (NASDAQ:PSTX)’s share price hit a new 52-week high on Tuesday . The company traded as high as $9.36 and last traded at $9.36, with a volume of 7608966 shares changing hands. The stock had previously closed at $2.86.

Analysts Set New Price Targets

Several research firms have issued reports on PSTX. BTIG Research reaffirmed a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday. Cantor Fitzgerald lowered Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright restated a “neutral” rating and set a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20. The company has a 50-day moving average price of $3.02 and a 200-day moving average price of $3.01. The firm has a market capitalization of $909.35 million, a P/E ratio of -14.81 and a beta of 0.54.

Insider Buying and Selling at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 651,291 shares in the company, valued at approximately $6,037,467.57. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Poseida Therapeutics

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