Canaccord Genuity Group Cuts Atara Biotherapeutics (NASDAQ:ATRA) Price Target to $17.00

Atara Biotherapeutics (NASDAQ:ATRA) had its price target dropped by research analysts at Canaccord Genuity Group from $21.00 to $17.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 147.27% from the company’s previous close.

A number of other research firms also recently issued reports on ATRA. RODMAN&RENSHAW raised shares of Atara Biotherapeutics to a “strong-buy” rating in a research note on Friday, December 20th. TD Cowen upgraded Atara Biotherapeutics to a “strong-buy” rating in a report on Friday, November 29th. Finally, Rodman & Renshaw started coverage on shares of Atara Biotherapeutics in a research report on Friday, December 20th. They issued a “buy” rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Atara Biotherapeutics Trading Down 12.2 %

ATRA stock traded down $0.96 during midday trading on Friday, hitting $6.88. The company had a trading volume of 714,915 shares, compared to its average volume of 449,967. Atara Biotherapeutics has a 52 week low of $6.50 and a 52 week high of $39.50. The stock’s 50 day moving average price is $12.62 and its 200 day moving average price is $10.00. The stock has a market cap of $39.60 million, a price-to-earnings ratio of -0.27 and a beta of 0.51.

Atara Biotherapeutics (NASDAQ:ATRA) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($2.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.77) by $0.84. The business had revenue of $40.19 million for the quarter, compared to analysts’ expectations of $23.00 million. During the same period last year, the firm posted ($16.50) earnings per share. Analysts predict that Atara Biotherapeutics will post -9.86 earnings per share for the current year.

Institutional Investors Weigh In On Atara Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ATRA. Vestal Point Capital LP boosted its stake in Atara Biotherapeutics by 11.3% during the 3rd quarter. Vestal Point Capital LP now owns 124,677 shares of the biotechnology company’s stock valued at $1,014,000 after purchasing an additional 12,677 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Atara Biotherapeutics by 9.5% during the third quarter. Geode Capital Management LLC now owns 46,720 shares of the biotechnology company’s stock valued at $380,000 after purchasing an additional 4,043 shares in the last quarter. FMR LLC boosted its position in shares of Atara Biotherapeutics by 41.7% during the third quarter. FMR LLC now owns 25,061 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 7,381 shares during the last quarter. State Street Corp increased its holdings in Atara Biotherapeutics by 52.3% in the 3rd quarter. State Street Corp now owns 22,353 shares of the biotechnology company’s stock worth $182,000 after buying an additional 7,680 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Atara Biotherapeutics in the 2nd quarter worth about $79,000. Institutional investors own 70.90% of the company’s stock.

Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc engages in the development of transformative therapies for patients with solid tumors, hematologic cancers, and autoimmune diseases in the United States and the United Kingdom. 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.