Atreca (NASDAQ:BCEL) Downgraded by Zacks Investment Research to Hold

Atreca (NASDAQ:BCEL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Atreca is a biopharmaceutical company utilizing its differentiated platform to discover and develop novel antibody-based immunotherapeutics to treat a range of solid tumor types. While more traditional oncology drug discovery approaches attempt to generate antibodies against known targets, Atreca’s approach relies on the human immune system to direct it to unique antibody-target pairs from patients experiencing a clinically meaningful, active immune response against their tumors. These unique antibody-target pairs represent a potentially novel and previously unexplored landscape of immuno-oncology targets. “

Shares of BCEL traded down $0.18 during trading hours on Tuesday, reaching $14.45. The stock had a trading volume of 108,536 shares, compared to its average volume of 121,326. Atreca has a 12 month low of $9.51 and a 12 month high of $23.65. The stock’s 50-day moving average is $13.94.

Atreca (NASDAQ:BCEL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.09. Analysts anticipate that Atreca will post -3.97 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley purchased a new stake in Atreca in the 2nd quarter valued at $43,000. Barclays PLC raised its position in Atreca by 261.6% in the 3rd quarter. Barclays PLC now owns 5,063 shares of the company’s stock valued at $62,000 after buying an additional 3,663 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Atreca in the 2nd quarter valued at $106,000. Point72 Hong Kong Ltd purchased a new stake in Atreca in the 2nd quarter valued at $144,000. Finally, California State Teachers Retirement System purchased a new stake in Atreca in the 3rd quarter valued at $124,000. Institutional investors own 57.72% of the company’s stock.

Atreca Company Profile

Atreca, Inc, a biopharmaceutical company, discovers and develops antibody-based immunotherapeutics to treat a range of solid tumor types. Its lead product candidate is ATRC-101, a monoclonal antibody in preclinical development with a novel mechanism of action and target derived from an antibody identified using its discovery platform.

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Analyst Recommendations for Atreca (NASDAQ:BCEL)

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