Poseida Therapeutics, Inc. (NASDAQ:PSTX) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 3,100,000 shares, a drop of 17.8% from the March 31st total of 3,770,000 shares. Based on an average trading volume of 386,900 shares, the short-interest ratio is presently 8.0 days. Currently, 9.2% of the shares of the company are sold short.
Separately, Zacks Investment Research lowered Poseida Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, March 17th.
In related news, insider Matthew A. Spear sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, April 21st. The stock was sold at an average price of $8.44, for a total transaction of $33,760.00. Following the sale, the insider now directly owns 15,485 shares of the company’s stock, valued at $130,693.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Ostertag sold 57,181 shares of the firm’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $9.55, for a total value of $546,078.55. Following the sale, the chief executive officer now directly owns 542,985 shares in the company, valued at $5,185,506.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,538 shares of company stock worth $2,593,750. 19.03% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in shares of Poseida Therapeutics in the fourth quarter valued at approximately $33,000. Public Employees Retirement System of Ohio purchased a new position in Poseida Therapeutics during the fourth quarter worth approximately $35,000. Strs Ohio purchased a new position in Poseida Therapeutics during the third quarter worth approximately $30,000. Citigroup Inc. lifted its position in Poseida Therapeutics by 582.9% during the fourth quarter. Citigroup Inc. now owns 4,405 shares of the company’s stock worth $48,000 after buying an additional 3,760 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Poseida Therapeutics during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 41.09% of the company’s stock.
Shares of NASDAQ PSTX traded down $0.51 during midday trading on Tuesday, hitting $8.45. The stock had a trading volume of 218,622 shares, compared to its average volume of 359,016. The company has a market capitalization of $525.02 million and a PE ratio of -1.23. The stock has a 50 day simple moving average of $9.41 and a 200-day simple moving average of $10.03. Poseida Therapeutics has a 1 year low of $7.63 and a 1 year high of $17.62.
Poseida Therapeutics (NASDAQ:PSTX) last released its earnings results on Thursday, March 11th. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.11. Equities research analysts anticipate that Poseida Therapeutics will post -3 earnings per share for the current year.
About Poseida Therapeutics
Poseida Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapeutics for patients with high unmet medical needs. The company is developing P-BCMA-101, an autologous chimeric antigen receptor T cell (CAR-T) targeting B cell maturation antigen that is in Phase II clinical trial; P-PSMA-101, an autologous CAR-T product candidate for the treatment of patients with metastatic castrate resistant prostate cancer (mCRPC) is in Phase I clinical trials; P-BCMA-ALLO1, an allogeneic CAR-T product candidate to treat relapsed/refractory multiple myeloma patients; P-MUC1C-ALLO1, an allogeneic CAR-T product candidate for multiple solid tumor indications; and P-PSMA-ALLO1, an allogeneic CAR-T product candidate for treating mCRPC.
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