Atara Biotherapeutics (NASDAQ:ATRA) Price Target Cut to $17.00 by Analysts at Canaccord Genuity Group

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

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

Atara Biotherapeutics Price Performance

Shares of ATRA traded down $0.96 during trading hours on Friday, hitting $6.88. The stock had a trading volume of 714,915 shares, compared to its average volume of 449,967. Atara Biotherapeutics has a 12 month low of $6.50 and a 12 month high of $39.50. The stock has a fifty day moving average price of $12.62 and a 200 day moving average price of $10.00. The firm has a market capitalization of $39.60 million, a PE ratio of -0.27 and a beta of 0.51.

Atara Biotherapeutics (NASDAQ:ATRA) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($2.93) 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 in the previous year, the company earned ($16.50) EPS. As a group, analysts anticipate that Atara Biotherapeutics will post -9.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Atara Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ATRA. Cubist Systematic Strategies LLC purchased a new stake in Atara Biotherapeutics in the second quarter worth about $79,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Atara Biotherapeutics in the 2nd quarter valued at about $53,000. FMR LLC lifted its position in shares of Atara Biotherapeutics by 41.7% in the 3rd quarter. FMR LLC now owns 25,061 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 7,381 shares during the period. Vestal Point Capital LP boosted its stake in shares of Atara Biotherapeutics by 11.3% during the third 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 in the last quarter. Finally, State Street Corp increased its holdings in Atara Biotherapeutics by 52.3% during the third quarter. State Street Corp now owns 22,353 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 7,680 shares during the period. 70.90% of the stock is owned by institutional investors.

About Atara Biotherapeutics

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.