Atara Biotherapeutics (NASDAQ:ATRA) Cut to Sell at StockNews.com

Atara Biotherapeutics (NASDAQ:ATRAGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages also recently issued reports on ATRA. JPMorgan Chase & Co. cut their price objective on Atara Biotherapeutics from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 target price on shares of Atara Biotherapeutics in a research report on Thursday, January 27th. Citigroup downgraded Atara Biotherapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $8.00 in a research report on Monday, May 9th. Finally, Canaccord Genuity Group dropped their target price on Atara Biotherapeutics from $78.00 to $67.00 in a research report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Atara Biotherapeutics currently has an average rating of “Hold” and a consensus price target of $30.43.

Shares of NASDAQ:ATRA opened at $5.30 on Tuesday. The business has a 50-day moving average price of $8.08 and a 200 day moving average price of $12.97. The company has a market capitalization of $495.05 million, a price-to-earnings ratio of -1.46 and a beta of 1.92. Atara Biotherapeutics has a 12-month low of $4.84 and a 12-month high of $20.04.

Atara Biotherapeutics (NASDAQ:ATRAGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.11. Atara Biotherapeutics had a negative return on equity of 113.94% and a negative net margin of 1,451.79%. During the same quarter in the prior year, the business posted ($0.86) earnings per share. On average, sell-side analysts expect that Atara Biotherapeutics will post -3.45 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. 683 Capital Management LLC boosted its stake in shares of Atara Biotherapeutics by 162.8% in the 3rd quarter. 683 Capital Management LLC now owns 1,781,234 shares of the biotechnology company’s stock valued at $31,885,000 after buying an additional 1,103,551 shares during the period. Letko Brosseau & Associates Inc. purchased a new stake in Atara Biotherapeutics during the fourth quarter worth approximately $247,000. Goldman Sachs Group Inc. lifted its stake in Atara Biotherapeutics by 10.6% during the third quarter. Goldman Sachs Group Inc. now owns 2,874,277 shares of the biotechnology company’s stock worth $51,450,000 after purchasing an additional 276,567 shares during the last quarter. Swiss National Bank lifted its stake in Atara Biotherapeutics by 0.8% during the third quarter. Swiss National Bank now owns 157,900 shares of the biotechnology company’s stock worth $2,826,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Integral Health Asset Management LLC purchased a new stake in Atara Biotherapeutics during the third quarter worth approximately $3,580,000.

About Atara Biotherapeutics (Get Rating)

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 3 clinical trials for the treatment of epstein-barr virus (EBV) driven post-transplant lymphoproliferative disease, as well as hematologic and solid tumors, including nasopharyngeal carcinoma.

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