Poseida Therapeutics (NASDAQ:PSTX) Sees Unusually-High Trading Volume – Here’s What Happened

Poseida Therapeutics, Inc. (NASDAQ:PSTX) saw unusually-high trading volume on Thursday . Approximately 618,864 shares were traded during trading, a decline of 16% from the previous session’s volume of 738,835 shares.The stock last traded at $9.46 and had previously closed at $9.60.

Analyst Ratings Changes

PSTX has been the subject of several recent analyst reports. HC Wainwright restated a “neutral” rating and issued a $9.00 price target (down previously from $20.00) on shares of Poseida Therapeutics in a report on Tuesday, November 26th. William Blair reissued a “market perform” 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 report on Tuesday, November 26th. Piper Sandler downgraded shares of Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Monday, December 2nd. Finally, BTIG Research reissued a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Poseida Therapeutics has an average rating of “Hold” and a consensus price target of $9.50.

Poseida Therapeutics Price Performance

The firm has a market capitalization of $920.05 million, a price-to-earnings ratio of -14.94 and a beta of 1.64. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $6.38 and its two-hundred day moving average price is $4.15.

Insider Buying and Selling at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $9.46, for a total transaction of $283,800.00. Following the completion of the sale, the chairman now owns 651,291 shares in the company, valued at $6,161,212.86. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Poseida Therapeutics

Several hedge funds have recently modified their holdings of PSTX. Marshall Wace LLP bought a new stake in Poseida Therapeutics in the 2nd quarter valued at $31,000. Principal Financial Group Inc. bought a new position in shares of Poseida Therapeutics in the 2nd quarter valued at $35,000. Rothschild Investment LLC bought a new stake in shares of Poseida Therapeutics during the second quarter worth about $35,000. Virtu Financial LLC acquired a new position in Poseida Therapeutics in the 3rd quarter valued at approximately $37,000. Finally, Intech Investment Management LLC bought a new position in shares of Poseida Therapeutics during the third quarter worth 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.