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

Shares of Atara Biotherapeutics, Inc. (NASDAQ:ATRA) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ATRA. RODMAN&RENSHAW downgraded shares of Atara Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price target on shares of Atara Biotherapeutics in a report on Tuesday, March 11th. HC Wainwright restated a “neutral” rating on shares of Atara Biotherapeutics in a report on Tuesday, January 28th. Rodman & Renshaw began coverage on shares of Atara Biotherapeutics in a report on Friday, December 20th. They set a “buy” rating and a $25.00 price target on the stock. Finally, TD Cowen upgraded shares of Atara Biotherapeutics to a “strong-buy” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Atara Biotherapeutics 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 cap 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 earnings results on Friday, March 7th. The biotechnology company reported ($1.19) EPS for the quarter, topping the consensus estimate of ($3.82) by $2.63. The firm had revenue of $32.75 million during the quarter, compared to the consensus estimate of $20.58 million. Research analysts forecast that Atara Biotherapeutics, Inc. will post -10.39 earnings per share for the current fiscal year.

Institutional Trading of Atara Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Atara Biotherapeutics in the 4th quarter worth $48,000. Northern Trust Corp acquired a new stake in Atara Biotherapeutics in the 4th quarter worth $149,000. Cubist Systematic Strategies LLC acquired a new stake in Atara Biotherapeutics in the 4th quarter worth $169,000. State Street Corp grew its position 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 purchasing an additional 7,680 shares during the last quarter. Finally, FMR LLC grew its position in 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 last quarter. 70.90% of the stock is currently owned by institutional investors and hedge funds.

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.