Piper Sandler Downgrades Poseida Therapeutics (NASDAQ:PSTX) to Neutral

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $10.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 6.95% from the stock’s current price.

Several other research firms have also recently weighed in on PSTX. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Cantor Fitzgerald cut shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a research note 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Trading Up 0.4 %

PSTX traded up $0.04 during trading on Monday, hitting $9.35. The company’s stock had a trading volume of 729,880 shares, compared to its average volume of 703,069. The firm has a market capitalization of $911.30 million, a P/E ratio of -14.81 and a beta of 0.54. The stock’s fifty day moving average price is $3.25 and its 200-day moving average price is $3.10. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68. Poseida Therapeutics has a twelve month low of $1.87 and a twelve month high of $9.42.

Insider Activity at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of the stock in a transaction on 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 in the company, valued at approximately $6,037,467.57. This represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Poseida Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Poseida Therapeutics during the 2nd quarter worth $31,000. Rothschild Investment LLC bought a new stake in shares of Poseida Therapeutics during the 2nd quarter worth approximately $35,000. Principal Financial Group Inc. bought a new position in shares of Poseida Therapeutics in the 2nd quarter valued at $35,000. Virtu Financial LLC bought a new stake in shares of Poseida Therapeutics in the 3rd quarter valued at $37,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Poseida Therapeutics in the 3rd quarter valued at about $46,000. Institutional investors 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.