Atara Biotherapeutics (NASDAQ:ATRA) Share Price Passes Below 50-Day Moving Average – Should You Sell?

by · The Markets Daily

Shares of Atara Biotherapeutics, Inc. (NASDAQ:ATRAGet Free Report) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.92 and traded as low as $8.02. Atara Biotherapeutics shares last traded at $8.13, with a volume of 28,911 shares changing hands.

Analysts Set New Price Targets

Several research analysts have issued reports on ATRA shares. Wall Street Zen raised Atara Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Freedom Capital raised shares of Atara Biotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Canaccord Genuity Group set a $13.00 price objective on shares of Atara Biotherapeutics and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of Atara Biotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Atara Biotherapeutics presently has an average rating of “Hold” and a consensus target price of $9.50.

Check Out Our Latest Stock Report on Atara Biotherapeutics

Atara Biotherapeutics Stock Performance

The company has a market capitalization of $73.25 million, a P/E ratio of -12.13 and a beta of 0.08. The stock has a fifty day moving average of $9.92 and a 200 day moving average of $7.35.

Atara Biotherapeutics (NASDAQ:ATRAGet Free Report) last released its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. Atara Biotherapeutics had a negative return on equity of 79.12% and a negative net margin of 40.91%.The business had revenue of $0.52 million during the quarter, compared to analyst estimates of $2.90 million. Research analysts anticipate that Atara Biotherapeutics, Inc. will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anhco Nguyen sold 5,241 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $9.13, for a total value of $47,850.33. Following the completion of the sale, the chief executive officer directly owned 137,837 shares of the company’s stock, valued at approximately $1,258,451.81. This represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Innovation Ltd Panacea sold 313,446 shares of Atara Biotherapeutics stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $10.10, for a total transaction of $3,165,804.60. Following the transaction, the insider directly owned 1,011,000 shares in the company, valued at $10,211,100. This represents a 23.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 321,101 shares of company stock valued at $3,235,695. 41.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Atara Biotherapeutics during the second quarter valued at about $31,000. Dimensional Fund Advisors LP purchased a new stake in shares of Atara Biotherapeutics in the fourth quarter worth about $181,000. Walleye Capital LLC purchased a new stake in shares of Atara Biotherapeutics in the fourth quarter worth about $220,000. Marshall Wace LLP bought a new position in Atara Biotherapeutics during the second quarter valued at approximately $327,000. Finally, Quadrature Capital Ltd boosted its stake in Atara Biotherapeutics by 22.8% during the fourth quarter. Quadrature Capital Ltd now owns 20,321 shares of the biotechnology company’s stock valued at $368,000 after buying an additional 3,779 shares during the last quarter. Institutional investors own 70.90% of the company’s stock.

Atara Biotherapeutics Company Profile

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Atara Biotherapeutics, Inc is a biotechnology company focused on the discovery, development and commercialization of novel T-cell immunotherapies to transform the treatment of cancer and autoimmune disease. Headquartered in South San Francisco, California, Atara leverages its proprietary off-the-shelf allogeneic Epstein-Barr virus (EBV)-directed T-cell platform to generate engineered cell therapies designed to target EBV-driven malignancies and immune-mediated disorders.

The company’s lead product candidate, tabelecleucel, is an off-the-shelf, EBV-specific T-cell therapy in clinical development for the treatment of EBV-positive post-transplant lymphoproliferative disease (PTLD) and other EBV-associated cancers.

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