Poseida Therapeutics (NASDAQ:PSTX) Rating Lowered to “Hold” at Cantor Fitzgerald

Poseida Therapeutics (NASDAQ:PSTX) was downgraded by investment analysts at Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

PSTX has been the subject of a number of other research reports. BTIG Research restated a “neutral” rating on shares of Poseida Therapeutics in a research note on Tuesday. HC Wainwright reiterated a “neutral” rating and set a $9.00 target price (down previously from $20.00) on shares of Poseida Therapeutics in a research note on Tuesday. Finally, William Blair reissued a “market perform” rating on shares of Poseida Therapeutics in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.50.

Poseida Therapeutics Stock Up 228.0 %

PSTX opened at $9.38 on Tuesday. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $2.97. Poseida Therapeutics has a 1-year low of $1.87 and a 1-year high of $9.41. The stock has a market cap of $914.17 million, a PE ratio of -14.89 and a beta of 0.54.

Hedge Funds Weigh In On Poseida Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in shares of Poseida Therapeutics by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,520 shares of the company’s stock valued at $83,000 after purchasing an additional 3,552 shares during the last quarter. Rhumbline Advisers grew its position in Poseida Therapeutics by 4.2% in the second quarter. Rhumbline Advisers now owns 97,012 shares of the company’s stock valued at $283,000 after acquiring an additional 3,875 shares during the last quarter. American Century Companies Inc. raised its stake in Poseida Therapeutics by 5.9% during the second quarter. American Century Companies Inc. now owns 90,487 shares of the company’s stock worth $264,000 after acquiring an additional 5,023 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Poseida Therapeutics by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 599,812 shares of the company’s stock worth $1,749,000 after acquiring an additional 9,672 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Poseida Therapeutics in the 1st quarter valued at approximately $33,000. Institutional investors 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.