H.C. Wainwright initiated coverage of Poseida Therapeutics (NASDAQ:PSTX) with a “buy” rating and $15 price target. The stock closed at $5.79 on Jan. 2.
Poseida is a clinical-stage biopharmaceutical company focused on developing novel cell and gene therapies to treat cancers and rare genetic diseases, based on its proprietary platforms, which include piggyBac, Cas-CLOVER, and nanoparticle technologies.
Analyst Arthur He, Ph.D., writes that the company currently has two clinical-stage allogeneic chimeric antigen receptor T-cell (CAR-T) candidates: P-MUC1C-ALLO1, a candidate targeting mucin 1 protein for the treatment of solid tumors; and P-BCMA-ALLO1, a candidate targeting B-cell maturation antigen, for the treatment of relapsed and refractory multiple myeloma, of which P-BCMA-ALLO1 is partnered with Roche.
The company also has two lead in vivo gene therapy programs: P-OTC-101 for the treatment of ornithine transcarbamylase deficiency; and P-FVIII-101 for the treatment of Hemophilia A, of which P-FVIII-101 is partnered with Takeda, he added.
“We believe Poseida’s platforms have the potential to reshape the landscape of both cell and gene therapies,” Dr. He said.
