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

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) saw unusually-strong trading volume on Wednesday . Approximately 1,369,646 shares were traded during mid-day trading, an increase of 98% from the previous session’s volume of 690,418 shares.The stock last traded at $9.39 and had previously closed at $9.38.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright reissued a “neutral” rating and issued a $9.00 price objective (down from $20.00) on shares of Poseida Therapeutics in a research report on Tuesday. Cantor Fitzgerald cut Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday. Finally, BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.50.

Poseida Therapeutics Trading Down 0.5 %

The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $3.14 and its 200 day moving average price is $3.05.

Insider Buying and Selling at Poseida Therapeutics

In other Poseida Therapeutics news, Chairman Mark J. Gergen sold 30,000 shares of the firm’s stock in a transaction dated 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PSTX. The Manufacturers Life Insurance Company lifted its stake in Poseida Therapeutics by 14.2% during the second quarter. The Manufacturers Life Insurance Company now owns 28,520 shares of the company’s stock worth $83,000 after purchasing an additional 3,552 shares during the last quarter. Rhumbline Advisers boosted its stake in 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 buying an additional 3,875 shares in the last quarter. American Century Companies Inc. grew its position in Poseida Therapeutics by 5.9% in the second quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock valued at $264,000 after acquiring an additional 5,023 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Poseida Therapeutics by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after acquiring an additional 9,672 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Poseida Therapeutics in the first quarter worth about $33,000. 46.87% of the stock is owned by institutional investors.

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.