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

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSTX. BTIG Research reaffirmed 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 research note on Tuesday, November 26th. Cantor Fitzgerald downgraded shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. William Blair restated a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Finally, Piper Sandler downgraded Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.50.

Poseida Therapeutics Price Performance

The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average price is $7.09 and its 200 day moving average price is $4.39. The company has a market cap of $928.85 million, a price-to-earnings ratio of -15.08 and a beta of 1.63.

Insider Buying and Selling at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of the business’s 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 owns 651,291 shares of the company’s stock, valued at $6,161,212.86. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Poseida Therapeutics

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Poseida Therapeutics by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 228,700 shares of the company’s stock worth $668,000 after buying an additional 26,316 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Poseida Therapeutics in the second quarter valued at about $35,000. Rhumbline Advisers grew its position in shares of Poseida Therapeutics by 4.2% in the second quarter. Rhumbline Advisers now owns 97,012 shares of the company’s stock valued at $283,000 after purchasing an additional 3,875 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Poseida Therapeutics by 9.4% during the 2nd quarter. Acadian Asset Management LLC now owns 399,839 shares of the company’s stock worth $1,165,000 after purchasing an additional 34,321 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Poseida Therapeutics by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock worth $264,000 after purchasing an additional 5,023 shares during the last quarter. 46.87% of the stock is currently owned by hedge funds and other institutional investors.

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.