Zacks Investment Research Upgrades Atara Biotherapeutics Inc. (ATRA) to Hold

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Atara Biotherapeutics Inc. (NASDAQ:ATRA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
Other equities analysts have also recently issued reports about the stock. JMP Securities reiterated a “buy” rating on shares of Atara Biotherapeutics in a research report on Saturday, July 9th. Citigroup Inc. lifted their price objective on shares of Atara Biotherapeutics from $8.00 to $10.00 and gave the stock a “sell” rating in a research report on Friday, August 19th. Goldman Sachs Group Inc. cut shares of Atara Biotherapeutics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $23.00 to $16.00 in a report on Thursday. Jefferies Group restated a “buy” rating and set a $25.00 price target (up from $22.00) on shares of Atara Biotherapeutics in a report on Tuesday, June 7th. Finally, Canaccord Genuity restated a “buy” rating on shares of Atara Biotherapeutics in a report on Tuesday, June 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.14.

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Shares of Atara Biotherapeutics (NASDAQ:ATRA) traded up 0.52% on Friday, hitting $19.28. The company had a trading volume of 214,561 shares. The company has a 50 day moving average of $21.76 and a 200-day moving average of $19.94. The company’s market cap is $555.48 million. Atara Biotherapeutics has a 12-month low of $13.31 and a 12-month high of $49.48.
Atara Biotherapeutics (NASDAQ:ATRA) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.61) by $0.05. On average, analysts forecast that Atara Biotherapeutics will post ($2.85) earnings per share for the current year.
In related news, insider Christopher Haqq sold 1,346 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $22.32, for a total value of $30,042.72. Following the completion of the sale, the insider now directly owns 295,294 shares in the company, valued at $6,590,962.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Isaac E. Ciechanover sold 9,600 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $22.33, for a total transaction of $214,368.00. Following the completion of the sale, the chief executive officer now owns 229,136 shares of the company’s stock, valued at $5,116,606.88. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. BlackRock Group LTD boosted its stake in shares of Atara Biotherapeutics by 76.8% in the first quarter. BlackRock Group LTD now owns 5,400 shares of the company’s stock worth $103,000 after buying an additional 2,345 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Atara Biotherapeutics by 6.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 417,248 shares of the company’s stock worth $7,940,000 after buying an additional 26,860 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Atara Biotherapeutics by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 62,600 shares of the company’s stock worth $1,191,000 after buying an additional 1,900 shares in the last quarter. RTW Investments LLC boosted its stake in shares of Atara Biotherapeutics by 11.1% in the first quarter. RTW Investments LLC now owns 473,126 shares of the company’s stock worth $9,004,000 after buying an additional 47,274 shares in the last quarter. Finally, A.R.T. Advisors LLC boosted its stake in shares of Atara Biotherapeutics by 79.6% in the first quarter. A.R.T. Advisors LLC now owns 63,941 shares of the company’s stock worth $1,216,000 after buying an additional 28,330 shares in the last quarter. Hedge funds and other institutional investors own 75.50% of the company’s stock.
About Atara Biotherapeutics
Atara Biotherapeutics, Inc is a clinical-stage biopharmaceutical company. Its segment is the business of developing and commercializing therapeutics. It has approximately two groups of product candidates, such as allogeneic or third-party derived antigen-specific T-cells, and molecularly targeted biologics.

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