Atara Biotherapeutics (ATRA) Downgraded by Zacks Investment Research

Atara Biotherapeutics (NASDAQ:ATRA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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. “

ATRA has been the subject of several other reports. BidaskClub raised shares of Atara Biotherapeutics from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Canaccord Genuity reissued a “buy” rating on shares of Atara Biotherapeutics in a report on Friday, December 29th. Cowen started coverage on shares of Atara Biotherapeutics in a report on Friday, January 26th. They issued an “outperform” rating for the company. Citigroup raised shares of Atara Biotherapeutics from a “sell” rating to a “neutral” rating and set a $18.00 price target for the company in a report on Wednesday, January 3rd. Finally, ValuEngine raised shares of Atara Biotherapeutics from a “sell” rating to a “hold” rating in a report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.60.

Shares of Atara Biotherapeutics (NASDAQ:ATRA) traded up $2.92 during trading hours on Tuesday, reaching $35.80. 747,515 shares of the company’s stock traded hands, compared to its average volume of 1,308,725. Atara Biotherapeutics has a 1 year low of $11.80 and a 1 year high of $40.75. The company has a market cap of $1,242.54, a P/E ratio of -10.32 and a beta of 2.71.

In other news, EVP Gad Soffer sold 7,000 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $15.00, for a total transaction of $105,000.00. Following the sale, the executive vice president now owns 166,342 shares in the company, valued at approximately $2,495,130. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Isaac E. Ciechanover sold 4,400 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $13.47, for a total transaction of $59,268.00. Following the sale, the chief executive officer now owns 737,767 shares in the company, valued at approximately $9,937,721.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,088 shares of company stock valued at $6,442,371. Insiders own 16.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of ATRA. SG Americas Securities LLC purchased a new stake in shares of Atara Biotherapeutics during the 3rd quarter valued at $142,000. Voya Investment Management LLC raised its position in shares of Atara Biotherapeutics by 16.2% during the 2nd quarter. Voya Investment Management LLC now owns 11,813 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 1,651 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Atara Biotherapeutics during the 3rd quarter valued at $170,000. The Manufacturers Life Insurance Company raised its position in shares of Atara Biotherapeutics by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,377 shares of the biotechnology company’s stock valued at $285,000 after buying an additional 1,369 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Atara Biotherapeutics by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 21,718 shares of the biotechnology company’s stock worth $304,000 after purchasing an additional 610 shares during the period. Hedge funds and other institutional investors own 69.69% of the company’s stock.

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Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies for patients with severe and life-threatening diseases. The Company operates through the business of developing and commercializing therapeutics segment. The Company is focused on developing allogeneic or third-party derived antigen-specific T-cells.

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