Atara Biotherapeutics (NASDAQ:ATRA) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Atara Biotherapeutics (NASDAQ:ATRA) from a sell rating to a hold rating in a research report report published on Wednesday morning, 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. “

Shares of ATRA stock opened at $16.08 on Wednesday. The stock has a market capitalization of $1.36 billion, a P/E ratio of -4.42 and a beta of 2.43. The firm’s 50 day moving average is $13.78 and its 200 day moving average is $14.35. Atara Biotherapeutics has a 12 month low of $11.81 and a 12 month high of $28.20.

Atara Biotherapeutics (NASDAQ:ATRA) last posted its earnings results on Sunday, August 8th. The biotechnology company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.03). The company had revenue of $3.87 million for the quarter, compared to analyst estimates of $6.32 million. On average, sell-side analysts anticipate that Atara Biotherapeutics will post -3.64 EPS for the current fiscal year.

In related news, SVP Amar Murugan sold 2,080 shares of the stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $12.53, for a total transaction of $26,062.40. Following the transaction, the senior vice president now owns 89,664 shares of the company’s stock, valued at approximately $1,123,489.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joe Newell sold 3,500 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $15.00, for a total transaction of $52,500.00. Following the transaction, the insider now directly owns 123,045 shares in the company, valued at approximately $1,845,675. The disclosure for this sale can be found here. Insiders have sold a total of 21,960 shares of company stock worth $283,804 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Staley Capital Advisers Inc. purchased a new stake in Atara Biotherapeutics during the 1st quarter valued at $3,590,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Atara Biotherapeutics by 42.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,575 shares of the biotechnology company’s stock valued at $238,000 after buying an additional 4,967 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Atara Biotherapeutics in the 2nd quarter worth about $1,573,000. Alliancebernstein L.P. lifted its position in shares of Atara Biotherapeutics by 3.0% in the 1st quarter. Alliancebernstein L.P. now owns 81,140 shares of the biotechnology company’s stock worth $1,165,000 after purchasing an additional 2,400 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of Atara Biotherapeutics in the 1st quarter worth about $782,000.

Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc is an allogeneic T-cell immunotherapy company, which pioneers the development of transformative therapies for patients with serious diseases including solid tumors, hematologic cancers, and autoimmune diseases. also delivers off-the-shelf treatments to patients with high unmet medical need.

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