Zacks Investment Research Lowers Atara Biotherapeutics (NASDAQ:ATRA) to Sell

Zacks Investment Research lowered shares of Atara Biotherapeutics (NASDAQ:ATRA) from a buy rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

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 have also issued reports about the stock. Mizuho raised their price target on shares of Microchip Technology from $95.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, May 9th. William Blair reissued an outperform rating on shares of NuCana in a research report on Thursday, May 16th. ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. Stifel Nicolaus set a $154.00 price target on shares of argenx and gave the stock a buy rating in a research report on Wednesday, May 22nd. Finally, Wedbush raised their price target on shares of Workday from $209.00 to $211.00 and gave the stock a neutral rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Atara Biotherapeutics presently has an average rating of Buy and an average price target of $41.86.



ATRA opened at $18.31 on Wednesday. Atara Biotherapeutics has a 12-month low of $17.69 and a 12-month high of $43.95. The company has a quick ratio of 9.96, a current ratio of 9.96 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $21.25.

Atara Biotherapeutics (NASDAQ:ATRA) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.04. Analysts expect that Atara Biotherapeutics will post -5.54 EPS for the current year.

In other news, insider Joe Newell sold 1,500 shares of Atara Biotherapeutics stock in a transaction that occurred on Monday, May 6th. The shares were 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 directly owns 62,998 shares of the company’s stock, valued at approximately $2,204,930. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric Dobmeier bought 2,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were purchased at an average cost of $19.50 per share, with a total value of $39,000.00. Following the completion of the acquisition, the director now owns 16,000 shares in the company, valued at $312,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,950 shares of company stock valued at $641,147. Insiders own 7.00% of the company’s stock.

Several large investors have recently bought and sold shares of ATRA. Manchester Capital Management LLC purchased a new position in shares of Atara Biotherapeutics during the 1st quarter valued at approximately $56,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Atara Biotherapeutics by 12.7% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,554 shares of the biotechnology company’s stock valued at $181,000 after purchasing an additional 512 shares in the last quarter. Amalgamated Bank purchased a new position in shares of Atara Biotherapeutics during the 4th quarter valued at approximately $212,000. Highland Private Wealth Management purchased a new position in shares of Atara Biotherapeutics during the 1st quarter valued at approximately $219,000. Finally, Marshall Wace LLP acquired a new stake in Atara Biotherapeutics in the 1st quarter valued at $284,000.

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. It is developing tabelecleucel, a 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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