Insider Selling: Poseida Therapeutics, Inc. (NASDAQ:PSTX) Chairman Sells 160,696 Shares of Stock

Poseida Therapeutics, Inc. (NASDAQ:PSTX – Get Rating) Chairman Eric Ostertag sold 160,696 shares of Poseida Therapeutics stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $3.69, for a total transaction of $592,968.24. Following the transaction, the chairman now owns 695,967 shares in the company, valued at $2,568,118.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Poseida Therapeutics Stock Performance

PSTX stock opened at $4.11 on Friday. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.56. Poseida Therapeutics, Inc. has a 1 year low of $1.82 and a 1 year high of $11.10. The company has a fifty day simple moving average of $2.56 and a 200 day simple moving average of $3.30.

Poseida Therapeutics (NASDAQ:PSTX – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.35). The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $2.50 million. As a group, research analysts expect that Poseida Therapeutics, Inc. will post -3.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Silverarc Capital Management LLC lifted its position in Poseida Therapeutics by 58.8% during the 2nd quarter. Silverarc Capital Management LLC now owns 380,606 shares of the company’s stock worth $982,000 after acquiring an additional 140,910 shares during the last quarter. Cantor Fitzgerald L. P. lifted its position in Poseida Therapeutics by 19.8% during the 1st quarter. Cantor Fitzgerald L. P. now owns 30,205 shares of the company’s stock worth $135,000 after acquiring an additional 5,000 shares during the last quarter. Delphia USA Inc. acquired a new position in Poseida Therapeutics during the 1st quarter worth $182,000. Prelude Capital Management LLC acquired a new position in Poseida Therapeutics during the 1st quarter worth $50,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Poseida Therapeutics by 456.5% during the 1st quarter. Renaissance Technologies LLC now owns 187,000 shares of the company’s stock worth $838,000 after purchasing an additional 153,400 shares during the period. Institutional investors and hedge funds own 41.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSTX shares. BTIG Research lowered their price objective on shares of Poseida Therapeutics from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 13th. Cantor Fitzgerald assumed coverage on shares of Poseida Therapeutics in a research note on Friday, May 13th. They set a “buy” rating and a $24.00 target price for the company. Finally, Piper Sandler decreased their target price on shares of Poseida Therapeutics from $19.00 to $9.00 in a research note on Friday, May 13th.

Poseida Therapeutics Company Profile

(Get Rating)

Poseida Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapeutics for patients with high unmet medical needs. The company develops P-PSMA-101, an autologous chimeric antigen receptor T cell (CAR-T) product candidate that is in Phase I trial for the treatment of patients with metastatic castrate resistant prostate cancer (mCRPC).