Atara Biotherapeutics (ATRA) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Atara Biotherapeutics (NASDAQ:ATRA) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “Atara Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company. It is focused on developing therapeutics for serious unmet medical needs, with an initial focus on muscle wasting conditions and oncology. The company’s lead programs are focused on myostatin and activin, members of the TGF-beta family of proteins that have demonstrated the potential to have therapeutic benefit in a number of clinical indications. Its lead product candidate is PINTA 745, which is in a Phase II clinical trial for the treatment of protein-energy wasting in end-stage renal disease patients. Atara Biotherapeutics, Inc. is headquartered in Brisbane, California. “

Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of Atara Biotherapeutics from a sell rating to a hold rating in a report on Friday, August 24th. Jefferies Financial Group restated a buy rating and set a $45.00 target price on shares of Atara Biotherapeutics in a report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $47.80.

ATRA traded down $1.60 during trading on Friday, reaching $36.23. 706,880 shares of the stock were exchanged, compared to its average volume of 483,651. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -9.06 and a beta of 2.59. Atara Biotherapeutics has a twelve month low of $12.65 and a twelve month high of $54.45.

Atara Biotherapeutics (NASDAQ:ATRA) last issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.13) by ($0.16). On average, analysts predict that Atara Biotherapeutics will post -4.74 earnings per share for the current year.

In other Atara Biotherapeutics news, insider Joe Newell sold 1,500 shares of Atara Biotherapeutics stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $39.45, for a total transaction of $59,175.00. Following the completion of the transaction, the insider now directly owns 33,358 shares of the company’s stock, valued at $1,315,973.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Isaac E. Ciechanover sold 3,900 shares of Atara Biotherapeutics stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $33.78, for a total transaction of $131,742.00. Following the transaction, the chief executive officer now directly owns 733,285 shares of the company’s stock, valued at $24,770,367.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,249 shares of company stock worth $3,592,222. 10.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ATRA. SG Americas Securities LLC bought a new position in Atara Biotherapeutics during the third quarter worth $108,000. Great West Life Assurance Co. Can boosted its position in Atara Biotherapeutics by 100.1% during the second quarter. Great West Life Assurance Co. Can now owns 3,309 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 1,655 shares during the period. Bank of Montreal Can bought a new position in Atara Biotherapeutics during the second quarter worth $180,000. Highland Private Wealth Management bought a new position in Atara Biotherapeutics during the second quarter worth $202,000. Finally, Principal Financial Group Inc. bought a new position in Atara Biotherapeutics during the first quarter worth $214,000.

Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc, an off-the-shelf T-cell immunotherapy company, develops treatments for patients with cancer, autoimmune, and viral diseases in the United States. The company is developing tabelecleucel, an advanced T-cell immunotherapy that is Phase III clinical trials for the treatment of rituximab-refractory epstein-barr virus (EBV) associated post-transplant lymphoproliferative disorder, as well as other EBV associated hematologic and solid tumors, including nasopharyngeal carcinoma.

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