HC Wainwright Reiterates Buy Rating for Poseida Therapeutics (NASDAQ:PSTX)

HC Wainwright reaffirmed their buy rating on shares of Poseida Therapeutics (NASDAQ:PSTX) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $20.00 target price on the stock.

Poseida Therapeutics Stock Up 9.4 %

PSTX opened at $3.95 on Thursday. Poseida Therapeutics has a twelve month low of $1.60 and a twelve month high of $4.27. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $2.98 and a 200 day moving average price of $3.05. The company has a market cap of $382.99 million, a PE ratio of -3.32 and a beta of 0.53.

Poseida Therapeutics (NASDAQ:PSTX) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.18. Poseida Therapeutics had a negative net margin of 131.95% and a negative return on equity of 97.36%. The firm had revenue of $28.14 million during the quarter, compared to the consensus estimate of $11.25 million. Sell-side analysts expect that Poseida Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Poseida Therapeutics by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,373,065 shares of the company’s stock valued at $10,760,000 after acquiring an additional 473,746 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Poseida Therapeutics by 89.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 830,127 shares of the company’s stock valued at $2,648,000 after acquiring an additional 391,801 shares during the last quarter. Blair William & Co. IL raised its holdings in Poseida Therapeutics by 41.3% in the 1st quarter. Blair William & Co. IL now owns 965,052 shares of the company’s stock valued at $3,079,000 after acquiring an additional 282,310 shares during the last quarter. MCF Advisors LLC raised its holdings in Poseida Therapeutics by 476.4% in the 4th quarter. MCF Advisors LLC now owns 247,024 shares of the company’s stock valued at $830,000 after acquiring an additional 204,170 shares during the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new stake in Poseida Therapeutics in the 4th quarter valued at about $169,000. 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.