Atara Biotherapeutics (NASDAQ:ATRA) Stock Price Passes Below 50 Day Moving Average of $8.69

Atara Biotherapeutics, Inc. (NASDAQ:ATRA) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $8.69 and traded as low as $8.03. Atara Biotherapeutics shares last traded at $8.31, with a volume of 126,076 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho upgraded shares of Atara Biotherapeutics from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $25.00 to $18.00 in a research note on Friday, August 16th. The Goldman Sachs Group cut their price objective on shares of Atara Biotherapeutics from $12.50 to $11.00 and set a “sell” rating on the stock in a research note on Wednesday, July 17th. HC Wainwright restated a “neutral” rating on shares of Atara Biotherapeutics in a research note on Wednesday, August 21st. Canaccord Genuity Group restated a “buy” rating and set a $13.00 price objective on shares of Atara Biotherapeutics in a research note on Tuesday, August 13th. Finally, StockNews.com assumed coverage on shares of Atara Biotherapeutics in a research note on Wednesday, June 26th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $185.50.

Atara Biotherapeutics Stock Up 20.3 %

The firm’s 50-day simple moving average is $8.71 and its 200 day simple moving average is $13.04. The stock has a market capitalization of $47.73 million, a P/E ratio of -0.18 and a beta of 0.50.

Atara Biotherapeutics (NASDAQ:ATRA) last issued its quarterly earnings results on Monday, August 12th. The biotechnology company reported ($3.10) EPS for the quarter, missing the consensus estimate of ($1.56) by ($1.54). The business had revenue of $28.64 million for the quarter, compared to analysts’ expectations of $48.30 million. As a group, equities analysts anticipate that Atara Biotherapeutics, Inc. will post -12.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Atara Biotherapeutics

A number of institutional investors have recently bought and sold shares of ATRA. Delap Wealth Advisory LLC purchased a new position in Atara Biotherapeutics during the 1st quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Atara Biotherapeutics during the 2nd quarter valued at about $53,000. Cubist Systematic Strategies LLC purchased a new position in Atara Biotherapeutics during the 2nd quarter valued at about $79,000. BNP Paribas Financial Markets grew its stake in Atara Biotherapeutics by 29.3% during the 1st quarter. BNP Paribas Financial Markets now owns 383,082 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 86,842 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Atara Biotherapeutics by 49.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,638,687 shares of the biotechnology company’s stock valued at $1,830,000 after acquiring an additional 873,133 shares in the last quarter. Hedge funds and other institutional investors own 70.90% of the company’s stock.

About Atara Biotherapeutics

Atara Biotherapeutics, Inc develops therapies for patients with solid tumors, hematologic cancers, and autoimmune diseases in the United States. Its lead product includes Tab-cel (tabelecleucel), a T-cell immunotherapy program that is in Phase 3 clinical trials for the treatment of epstein-barr virus (EBV) driven post-transplant lymphoproliferative disease, as well as nasopharyngeal carcinoma.