Poseida Therapeutics, Inc. (NASDAQ:PSTX) Chairman Mark J. Gergen Sells 30,000 Shares

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

Poseida Therapeutics Stock Up 0.6 %

Shares of Poseida Therapeutics stock traded up $0.06 during trading on Wednesday, reaching $9.51. The company’s stock had a trading volume of 743,516 shares, compared to its average volume of 730,236. The company has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $3.41. The company has a market cap of $926.89 million, a price-to-earnings ratio of -15.00 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. Poseida Therapeutics, Inc. has a 1-year low of $1.87 and a 1-year high of $9.52.

Institutional Investors Weigh In On Poseida Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC purchased a new position in Poseida Therapeutics during the third quarter worth approximately $369,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Poseida Therapeutics by 62.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,197 shares of the company’s stock valued at $1,027,000 after purchasing an additional 138,510 shares during the last quarter. Renaissance Technologies LLC increased its stake in Poseida Therapeutics by 53.4% during the second quarter. Renaissance Technologies LLC now owns 854,900 shares of the company’s stock worth $2,496,000 after acquiring an additional 297,500 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Poseida Therapeutics during the third quarter worth $285,000. Finally, Vanguard Group Inc. increased its stake in 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 acquiring an additional 473,746 shares during the last quarter. 46.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSTX has been the topic of several research analyst reports. 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, November 26th. Cantor Fitzgerald cut Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler downgraded Poseida Therapeutics from an “overweight” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Monday, December 2nd. BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday, November 26th. Finally, William Blair restated a “market perform” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.50.

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.