Fred Alger Management LLC Buys Shares of 128,970 Poseida Therapeutics, Inc. (NASDAQ:PSTX)

Fred Alger Management LLC purchased a new position in Poseida Therapeutics, Inc. (NASDAQ:PSTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 128,970 shares of the company’s stock, valued at approximately $369,000. Fred Alger Management LLC owned about 0.13% of Poseida Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in Poseida Therapeutics in the second quarter valued at $31,000. Principal Financial Group Inc. bought a new position in shares of Poseida Therapeutics during the 2nd quarter valued at about $35,000. Rothschild Investment LLC purchased a new position in shares of Poseida Therapeutics during the 2nd quarter valued at about $35,000. Intech Investment Management LLC purchased a new position in shares of Poseida Therapeutics during the 3rd quarter valued at about $46,000. Finally, Mackenzie Financial Corp purchased a new stake in Poseida Therapeutics in the second quarter worth approximately $51,000. Hedge funds and other institutional investors own 46.87% of the company’s stock.

Insider Activity at Poseida Therapeutics

In other news, Chairman Mark J. Gergen sold 30,000 shares of Poseida Therapeutics stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $9.27, for a total value of $278,100.00. Following the sale, the chairman now directly owns 651,291 shares in the company, valued at approximately $6,037,467.57. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSTX. William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Cantor Fitzgerald cut shares of Poseida Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research report on Tuesday, November 26th. Finally, HC Wainwright reissued a “neutral” rating and issued a $9.00 target price (down previously from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Poseida Therapeutics Price Performance

Shares of Poseida Therapeutics stock opened at $9.31 on Monday. The firm has a market cap of $907.40 million, a PE ratio of -14.78 and a beta of 0.54. The company’s fifty day simple moving average is $3.25 and its two-hundred day simple moving average is $3.10. 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 12-month low of $1.87 and a 12-month high of $9.42.

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.