Shares of Atara Biotherapeutics, Inc. (NASDAQ:ATRA – Get Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.92 and traded as low as $8.02. Atara Biotherapeutics shares last traded at $8.13, with a volume of 28,911 shares traded.
Analyst Ratings Changes
Several research firms recently issued reports on ATRA. Weiss Ratings raised shares of Atara Biotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Freedom Capital raised shares of Atara Biotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Canaccord Genuity Group set a $13.00 target price on shares of Atara Biotherapeutics and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of Atara Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.50.
Check Out Our Latest Analysis on Atara Biotherapeutics
Atara Biotherapeutics Stock Down 3.3%
Atara Biotherapeutics (NASDAQ:ATRA – Get Free Report) last released its earnings results on Tuesday, May 12th. The biotechnology company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $2.90 million. Atara Biotherapeutics had a negative net margin of 40.91% and a negative return on equity of 79.12%. Equities analysts forecast that Atara Biotherapeutics, Inc. will post -0.16 EPS for the current fiscal year.
Insider Activity
In other news, major shareholder Innovation Ltd Panacea sold 313,446 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $10.10, for a total transaction of $3,165,804.60. Following the completion of the transaction, the insider directly owned 1,011,000 shares of the company’s stock, valued at approximately $10,211,100. This represents a 23.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anhco Nguyen sold 5,241 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $9.13, for a total value of $47,850.33. Following the sale, the chief executive officer owned 137,837 shares in the company, valued at $1,258,451.81. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 321,101 shares of company stock worth $3,235,695. 41.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATRA. Raymond James Financial Inc. acquired a new position in shares of Atara Biotherapeutics during the second quarter valued at $31,000. Dimensional Fund Advisors LP acquired a new stake in shares of Atara Biotherapeutics in the 4th quarter worth about $181,000. Walleye Capital LLC bought a new stake in Atara Biotherapeutics in the 4th quarter valued at about $220,000. Marshall Wace LLP bought a new stake in Atara Biotherapeutics in the 2nd quarter valued at about $327,000. Finally, Quadrature Capital Ltd boosted its stake in Atara Biotherapeutics by 22.8% during the 4th quarter. Quadrature Capital Ltd now owns 20,321 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 3,779 shares during the period. Institutional investors and hedge funds own 70.90% of the company’s stock.
About Atara Biotherapeutics
Atara Biotherapeutics, Inc is a biotechnology company focused on the discovery, development and commercialization of novel T-cell immunotherapies to transform the treatment of cancer and autoimmune disease. Headquartered in South San Francisco, California, Atara leverages its proprietary off-the-shelf allogeneic Epstein-Barr virus (EBV)-directed T-cell platform to generate engineered cell therapies designed to target EBV-driven malignancies and immune-mediated disorders.
The company’s lead product candidate, tabelecleucel, is an off-the-shelf, EBV-specific T-cell therapy in clinical development for the treatment of EBV-positive post-transplant lymphoproliferative disease (PTLD) and other EBV-associated cancers.
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