Poseida Therapeutics (NASDAQ:PSTX) Sets New 52-Week High – Still a Buy?

Poseida Therapeutics, Inc. (NASDAQ:PSTX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.66 and last traded at $9.66, with a volume of 464888 shares trading hands. The stock had previously closed at $9.56.

Wall Street Analysts Forecast Growth

PSTX has been the subject of a number of research analyst reports. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. HC Wainwright restated a “neutral” rating and issued a $9.00 price objective (down from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Cantor Fitzgerald cut Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Piper Sandler lowered shares of Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Monday, December 2nd. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Price Performance

The firm has a market cap of $939.61 million, a price-to-earnings ratio of -15.25 and a beta of 1.63. 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 business’s 50-day moving average price is $6.80 and its two-hundred day moving average price is $4.30.

Insider Activity

In related news, Chairman Mark J. Gergen sold 30,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.46, for a total value of $283,800.00. Following the completion of the transaction, the chairman now owns 651,291 shares in the company, valued at $6,161,212.86. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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 modified their holdings of PSTX. State Street Corp raised 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 valued at $4,892,000 after buying an additional 38,770 shares during the period. Blair William & Co. IL boosted its stake in shares of Poseida Therapeutics by 14.1% during the 2nd quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock valued at $3,216,000 after buying an additional 136,273 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Poseida Therapeutics by 53.4% during the 2nd quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock valued at $2,496,000 after acquiring an additional 297,500 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Poseida Therapeutics by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after acquiring an additional 9,672 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Poseida Therapeutics by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 567,063 shares of the company’s stock worth $1,622,000 after acquiring an additional 21,255 shares in 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.