Poseida Therapeutics (NASDAQ:PSTX) Sees Large Volume Increase – Time to Buy?

Poseida Therapeutics, Inc. (NASDAQ:PSTX) shares saw an uptick in trading volume on Wednesday . 1,369,646 shares were traded 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.

Analyst Upgrades and Downgrades

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

Poseida Therapeutics Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a market cap of $910.32 million, a price-to-earnings ratio of -14.89 and a beta of 0.54. The business’s 50-day moving average is $2.90 and its 200-day moving average is $2.97.

Institutional Investors Weigh In On Poseida Therapeutics

Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in Poseida Therapeutics in the 1st quarter valued at $110,000. Vanguard Group Inc. raised its stake in Poseida Therapeutics by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock worth $10,760,000 after purchasing an additional 473,746 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Poseida Therapeutics by 280.3% in the 1st quarter. Lazard Asset Management LLC now owns 28,679 shares of the company’s stock valued at $91,000 after purchasing an additional 21,138 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Poseida Therapeutics by 177.3% during the first quarter. Public Employees Retirement System of Ohio now owns 62,945 shares of the company’s stock worth $201,000 after purchasing an additional 40,245 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of Poseida Therapeutics in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 46.87% of the company’s stock.

About Poseida Therapeutics

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.