Poseida Therapeutics (NASDAQ:PSTX) Lowered to “Hold” Rating by Cantor Fitzgerald

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. William Blair reaffirmed a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday. Finally, HC Wainwright reissued a “neutral” rating and set a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Poseida Therapeutics presently has an average rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Trading Up 228.0 %

Shares of NASDAQ PSTX opened at $9.38 on Tuesday. The company’s 50 day simple moving average is $2.90 and its 200 day simple moving average is $2.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20. Poseida Therapeutics has a fifty-two week low of $1.87 and a fifty-two week high of $9.41. The firm has a market capitalization of $914.17 million, a P/E ratio of -14.89 and a beta of 0.54.

Institutional Trading of Poseida Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of PSTX. The Manufacturers Life Insurance Company lifted its stake in Poseida Therapeutics by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,520 shares of the company’s stock valued at $83,000 after acquiring an additional 3,552 shares in the last quarter. Rhumbline Advisers increased 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 acquiring an additional 3,875 shares during the last quarter. American Century Companies Inc. boosted its position in Poseida Therapeutics by 5.9% during the second quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock valued at $264,000 after purchasing an additional 5,023 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Poseida Therapeutics by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock valued at $1,749,000 after purchasing an additional 9,672 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Poseida Therapeutics during the 1st quarter worth approximately $33,000. 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.