Poseida Therapeutics (NASDAQ:PSTX) Downgraded to “Neutral” Rating by Piper Sandler

Piper Sandler lowered shares of Poseida Therapeutics (NASDAQ:PSTX) from an overweight rating to a neutral rating in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has $10.00 price target on the stock.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald downgraded Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. BTIG Research reaffirmed a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Finally, HC Wainwright restated a “neutral” rating and issued a $9.00 price target (down from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Poseida Therapeutics has a consensus rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Price Performance

Shares of PSTX opened at $9.32 on Monday. 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 $3.25 and a 200-day moving average price of $3.10. Poseida Therapeutics has a fifty-two week low of $1.87 and a fifty-two week high of $9.42. The stock has a market capitalization of $908.37 million, a PE ratio of -14.79 and a beta of 0.54.

Insider Activity at Poseida Therapeutics

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction dated Tuesday, November 26th. The stock was 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 owns 651,291 shares of the company’s stock, valued at approximately $6,037,467.57. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Poseida Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSTX. Vanguard Group Inc. boosted its stake 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 in the last quarter. State Street Corp boosted its position in Poseida Therapeutics by 2.3% during the third quarter. State Street Corp now owns 1,710,565 shares of the company’s stock worth $4,892,000 after purchasing an additional 38,770 shares in the last quarter. Blair William & Co. IL grew its holdings in Poseida Therapeutics by 14.1% in the second quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock valued at $3,216,000 after purchasing an additional 136,273 shares during the period. Renaissance Technologies LLC grew its holdings in Poseida Therapeutics by 53.4% in the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock valued at $2,496,000 after purchasing an additional 297,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Poseida Therapeutics by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after buying an additional 9,672 shares during the period. 46.87% of the stock is owned by institutional investors and hedge funds.

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.