Atara Biotherapeutics (NASDAQ:ATRA) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Atara Biotherapeutics, Inc. (NASDAQ:ATRA)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.60 and traded as low as $6.75. Atara Biotherapeutics shares last traded at $7.02, with a volume of 47,914 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rodman & Renshaw assumed coverage on shares of Atara Biotherapeutics in a research report on Friday, December 20th. They set a “buy” rating and a $25.00 target price on the stock. HC Wainwright reiterated a “neutral” rating on shares of Atara Biotherapeutics in a research report on Tuesday, January 28th. TD Cowen upgraded shares of Atara Biotherapeutics to a “strong-buy” rating in a research report on Friday, November 29th. RODMAN&RENSHAW lowered shares of Atara Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Atara Biotherapeutics in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Atara Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $17.75.

Atara Biotherapeutics Trading Down 5.2 %

The stock has a market capitalization of $39.49 million, a P/E ratio of -0.26 and a beta of 0.49. The firm’s fifty day moving average is $8.21 and its 200-day moving average is $9.69.

Atara Biotherapeutics (NASDAQ:ATRA) last announced its quarterly earnings results on Friday, March 7th. The biotechnology company reported ($1.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.82) by $2.63. The firm had revenue of $32.75 million for the quarter, compared to the consensus estimate of $20.58 million. Equities research analysts expect that Atara Biotherapeutics, Inc. will post -10.39 EPS for the current year.

Hedge Funds Weigh In On Atara Biotherapeutics

A number of institutional investors have recently modified their holdings of ATRA. FMR LLC raised its stake in shares of Atara Biotherapeutics by 41.7% in the third quarter. FMR LLC now owns 25,061 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 7,381 shares during the last quarter. Vestal Point Capital LP raised its stake in shares of Atara Biotherapeutics by 11.3% in the third quarter. Vestal Point Capital LP now owns 124,677 shares of the biotechnology company’s stock worth $1,014,000 after acquiring an additional 12,677 shares during the last quarter. State Street Corp raised its stake in shares of Atara Biotherapeutics by 52.3% in the third quarter. State Street Corp now owns 22,353 shares of the biotechnology company’s stock worth $182,000 after acquiring an additional 7,680 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Atara Biotherapeutics by 9.5% in the third quarter. Geode Capital Management LLC now owns 46,720 shares of the biotechnology company’s stock worth $380,000 after acquiring an additional 4,043 shares during the last quarter. Finally, Staley Capital Advisers Inc. raised its stake in shares of Atara Biotherapeutics by 25.0% in the fourth quarter. Staley Capital Advisers Inc. now owns 50,000 shares of the biotechnology company’s stock worth $666,000 after acquiring an additional 10,000 shares during the last quarter. 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.