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

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Zacks Investment Research downgraded 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. “

Several other research analysts also recently commented on ATRA. BidaskClub downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 9th. Citigroup raised shares of Atara Biotherapeutics from a sell rating to a neutral rating and raised their price target for the stock from $23.00 to $24.00 in a research note on Monday, June 3rd. Canaccord Genuity reaffirmed a speculative buy rating and issued a GBX 70 ($0.91) price target on shares of Bacanora Lithium in a research note on Monday, July 1st. 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 note on Thursday, May 9th. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Atara Biotherapeutics presently has a consensus rating of Buy and an average target price of $41.86.

ATRA stock 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 business has a 50-day moving average of $21.25. The company has a current ratio of 9.96, a quick ratio of 9.96 and a debt-to-equity ratio of 0.05.

Atara Biotherapeutics (NASDAQ:ATRA) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.48) by $0.04. On average, equities research analysts expect that Atara Biotherapeutics will post -5.54 EPS for the current fiscal year.

In other Atara Biotherapeutics news, Director Eric Dobmeier bought 2,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were bought at an average cost of $19.50 per share, for a total transaction of $39,000.00. Following the acquisition, the director now directly owns 16,000 shares in the company, valued at $312,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Isaac E. Ciechanover sold 7,800 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $33.54, for a total transaction of $261,612.00. Following the transaction, the chief executive officer now owns 332,243 shares in the company, valued at $11,143,430.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,950 shares of company stock worth $641,147. 7.00% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC bought a new position in Atara Biotherapeutics during the 1st quarter worth about $56,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Atara Biotherapeutics by 228.3% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 109,430 shares of the biotechnology company’s stock worth $3,802,000 after acquiring an additional 76,100 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Atara Biotherapeutics by 1.3% during the 1st quarter. Neuberger Berman Group LLC now owns 1,306,651 shares of the biotechnology company’s stock worth $51,939,000 after acquiring an additional 16,703 shares in the last quarter. Legal & General Group Plc grew its holdings in Atara Biotherapeutics by 6.2% during the 4th quarter. Legal & General Group Plc now owns 16,809 shares of the biotechnology company’s stock worth $584,000 after acquiring an additional 983 shares in the last quarter. Finally, Norges Bank bought a new position in Atara Biotherapeutics during the 4th quarter worth about $20,648,000.

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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