HC Wainwright Reaffirms Buy Rating for Poseida Therapeutics (NASDAQ:PSTX)

HC Wainwright reiterated their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a report published on Monday morning, Benzinga reports. They currently have a $20.00 target price on the stock.

Poseida Therapeutics Stock Performance

NASDAQ PSTX opened at $2.16 on Monday. The firm has a market cap of $207.94 million, a price-to-earnings ratio of -1.55 and a beta of 0.36. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.56. Poseida Therapeutics has a 1-year low of $1.54 and a 1-year high of $4.27. The company has a 50 day moving average of $3.16 and a 200-day moving average of $2.94.

Poseida Therapeutics (NASDAQ:PSTX) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.09. The firm had revenue of $25.00 million during the quarter, compared to analysts’ expectations of $12.50 million. Poseida Therapeutics had a negative return on equity of 94.90% and a negative net margin of 190.76%. On average, equities analysts forecast that Poseida Therapeutics will post -1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silverarc Capital Management LLC raised its stake in shares of Poseida Therapeutics by 21.1% in the third quarter. Silverarc Capital Management LLC now owns 3,567,985 shares of the company’s stock worth $8,492,000 after acquiring an additional 622,037 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Poseida Therapeutics in the fourth quarter valued at approximately $76,000. Mirae Asset Global Investments Co. Ltd. raised its position in Poseida Therapeutics by 10.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 259,929 shares of the company’s stock worth $619,000 after purchasing an additional 23,960 shares during the last quarter. Strs Ohio acquired a new position in Poseida Therapeutics during the 3rd quarter worth $47,000. Finally, Barclays PLC boosted its position in Poseida Therapeutics by 40.7% in the 3rd quarter. Barclays PLC now owns 45,542 shares of the company’s stock valued at $109,000 after buying an additional 13,174 shares during the last quarter. Institutional investors and hedge funds own 46.87% of the company’s stock.

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.