Poseida Therapeutics (NASDAQ:PSTX) Cut to Hold at Cantor Fitzgerald

Cantor Fitzgerald cut shares of Poseida Therapeutics (NASDAQ:PSTX) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday. HC Wainwright reiterated a “neutral” rating and issued a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a report on Tuesday. Finally, William Blair restated a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Poseida Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Poseida Therapeutics Stock Down 0.5 %

Shares of PSTX stock opened at $9.33 on Tuesday. Poseida Therapeutics has a 1 year low of $1.87 and a 1 year high of $9.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20. The business’s fifty day moving average is $3.14 and its 200-day moving average is $3.05. The stock has a market cap of $909.35 million, a PE ratio of -14.81 and a beta of 0.54.

Insiders Place Their Bets

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $9.27, for a total value of $278,100.00. Following the transaction, the chairman now directly owns 651,291 shares of the company’s stock, valued at $6,037,467.57. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 added to or reduced their stakes in PSTX. Marshall Wace LLP purchased a new stake in shares of Poseida Therapeutics in the second quarter valued at $31,000. Bayesian Capital Management LP purchased a new stake in Poseida Therapeutics in the 1st quarter worth about $33,000. Rothschild Investment LLC acquired a new stake in Poseida Therapeutics during the 2nd quarter worth about $35,000. Principal Financial Group Inc. purchased a new position in Poseida Therapeutics during the 2nd quarter valued at about $35,000. Finally, Virtu Financial LLC acquired a new position in shares of Poseida Therapeutics in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds 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.