Poseida Therapeutics’ (PSTX) Buy Rating Reiterated at HC Wainwright

Poseida Therapeutics (NASDAQ:PSTX)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $20.00 target price on the stock.

Poseida Therapeutics Price Performance

NASDAQ PSTX traded up $0.20 on Friday, reaching $3.13. 875,259 shares of the stock traded hands, compared to its average volume of 557,887. Poseida Therapeutics has a 12 month low of $1.87 and a 12 month high of $4.27. The company has a market cap of $304.02 million, a price-to-earnings ratio of -2.66 and a beta of 0.54. The firm’s fifty day simple moving average is $2.75 and its 200 day simple moving average is $2.87. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.97.

Poseida Therapeutics (NASDAQ:PSTX) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. The firm had revenue of $25.97 million for the quarter, compared to analysts’ expectations of $13.75 million. Poseida Therapeutics had a negative net margin of 127.48% and a negative return on equity of 121.01%. As a group, research analysts predict that Poseida Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Poseida Therapeutics by 16.3% during the first quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock worth $10,760,000 after purchasing an additional 473,746 shares during the period. Blair William & Co. IL lifted its stake in Poseida Therapeutics by 14.1% during the second 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Poseida Therapeutics by 53.4% in the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after buying an additional 297,500 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Poseida Therapeutics by 89.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock worth $2,648,000 after acquiring an additional 391,801 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Poseida Therapeutics by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock valued at $1,749,000 after acquiring an additional 9,672 shares during the period. Institutional investors own 46.87% of the company’s stock.

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.