Poseida Therapeutics price target lowered to $14 from $17 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Poseida Therapeutics (PSTX) to $14 from $17 and keeps an Overweight rating on the shares. The price target reduction reflects the removal of value related to the recently ended gene therapy collaboration with Takeda (TAK), though Cantor Fitzgerald says Poseida started the week “on the right foot” with a $50M strategic investment by Astellas (ALPMF), the analyst tells investors in a research note.