Poseida Therapeutics (NASDAQ:PSTX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Poseida Therapeutics, Inc. (NASDAQ:PSTX) saw unusually-strong trading volume on Wednesday . Approximately 1,369,646 shares traded hands during 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSTX. HC Wainwright reaffirmed a “neutral” rating and issued a $9.00 target price (down previously from $20.00) on shares of Poseida Therapeutics in a report on Tuesday. William Blair reiterated a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday. Cantor Fitzgerald lowered shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.68, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a 50 day moving average price of $3.14 and a two-hundred day moving average price of $3.05.

Insider Activity at Poseida Therapeutics

In related news, Chairman Mark J. Gergen sold 30,000 shares of the business’s stock in a transaction 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 owns 651,291 shares in the company, valued at $6,037,467.57. The trade was a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Poseida Therapeutics

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Poseida Therapeutics by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock valued at $10,760,000 after purchasing an additional 473,746 shares in the last quarter. State Street Corp lifted its stake in Poseida Therapeutics by 2.3% in the third quarter. State Street Corp now owns 1,710,565 shares of the company’s stock valued at $4,892,000 after buying an additional 38,770 shares during the period. Blair William & Co. IL boosted its holdings in shares of Poseida Therapeutics by 14.1% during the 2nd quarter. Blair William & Co. IL now owns 1,101,325 shares of the company’s stock worth $3,216,000 after buying an additional 136,273 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Poseida Therapeutics by 53.4% during the 2nd 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. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Poseida Therapeutics by 89.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock valued at $2,648,000 after acquiring an additional 391,801 shares in the last quarter. 46.87% of the stock is currently owned by institutional investors and hedge funds.

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.