Poseida Therapeutics (NASDAQ:PSTX) Downgraded by Cantor Fitzgerald to “Hold”

Cantor Fitzgerald lowered shares of Poseida Therapeutics (NASDAQ:PSTX) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. William Blair restated a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday. HC Wainwright restated a “neutral” rating and issued a $9.00 target price (down from $20.00) on shares of Poseida Therapeutics in a report on Tuesday. Finally, BTIG Research reiterated a “neutral” rating on shares of Poseida Therapeutics in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

Poseida Therapeutics Price Performance

Shares of NASDAQ PSTX opened at $9.38 on Tuesday. The stock has a market capitalization of $914.17 million, a price-to-earnings ratio of -14.89 and a beta of 0.54. Poseida Therapeutics has a 52 week low of $1.87 and a 52 week high of $9.41. The firm has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $2.97. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.68.

Institutional Investors Weigh In On Poseida Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bayesian Capital Management LP purchased a new position in shares of Poseida Therapeutics during the first quarter worth $33,000. Marshall Wace LLP purchased a new stake in Poseida Therapeutics during the 2nd quarter worth about $31,000. Rothschild Investment LLC acquired a new stake in Poseida Therapeutics in the 2nd quarter valued at about $35,000. Principal Financial Group Inc. purchased a new position in shares of Poseida Therapeutics in the 2nd quarter valued at about $35,000. Finally, Virtu Financial LLC acquired a new position in shares of Poseida Therapeutics during the third quarter worth about $37,000. Hedge funds and other institutional investors own 46.87% of the company’s stock.

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.