Atara Biotherapeutics (ATRA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Atara Biotherapeutics (NASDAQ:ATRA) from a hold rating to a sell rating in a report released 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. “

Several other equities research analysts have also recently weighed in on the stock. BidaskClub raised shares of Atara Biotherapeutics from a sell rating to a hold rating in a research report on Saturday, November 3rd. Jefferies Financial Group reaffirmed a buy rating and set a $45.00 price objective on shares of Atara Biotherapeutics in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $47.80.

ATRA traded down $1.60 on Friday, hitting $36.23. 706,880 shares of the stock were exchanged, compared to its average volume of 483,651. Atara Biotherapeutics has a 12 month low of $12.65 and a 12 month high of $54.45. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -9.06 and a beta of 2.59.

Atara Biotherapeutics (NASDAQ:ATRA) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.13) by ($0.16). Sell-side analysts anticipate that Atara Biotherapeutics will post -4.74 EPS for the current fiscal year.

In other Atara Biotherapeutics news, insider Joe Newell sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $35.00, for a total transaction of $52,500.00. Following the completion of the transaction, the insider now owns 33,358 shares of the company’s stock, valued at $1,167,530. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Isaac E. Ciechanover sold 3,900 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $33.78, for a total value of $131,742.00. Following the transaction, the chief executive officer now directly owns 733,285 shares of the company’s stock, valued at approximately $24,770,367.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,249 shares of company stock valued at $3,592,222. Insiders own 10.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Atara Biotherapeutics during the third quarter worth about $108,000. Great West Life Assurance Co. Can raised its stake 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 acquiring an additional 1,655 shares in the last quarter. Bank of Montreal Can acquired a new position in Atara Biotherapeutics during the second quarter worth about $180,000. Principal Financial Group Inc. acquired a new position in Atara Biotherapeutics during the first quarter worth about $214,000. Finally, Highland Private Wealth Management acquired a new position in Atara Biotherapeutics during the second quarter worth about $202,000.

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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