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

Atara Biotherapeutics, Inc. (NASDAQ:ATRA) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.71 and traded as low as $7.35. Atara Biotherapeutics shares last traded at $7.52, with a volume of 77,487 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ATRA. TD Cowen raised shares of Atara Biotherapeutics to a “strong-buy” rating in a research report on Friday, November 29th. Rodman & Renshaw assumed coverage on shares of Atara Biotherapeutics in a research note on Friday, December 20th. They issued a “buy” rating and a $25.00 price objective on the stock. HC Wainwright restated a “neutral” rating on shares of Atara Biotherapeutics in a research note on Tuesday, January 28th. Canaccord Genuity Group dropped their price objective on shares of Atara Biotherapeutics from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, RODMAN&RENSHAW lowered shares of Atara Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Atara Biotherapeutics Price Performance

The firm’s 50-day simple moving average is $10.65 and its two-hundred day simple moving average is $9.75. The company has a market capitalization of $40.95 million, a price-to-earnings ratio of -0.28 and a beta of 0.46.

Hedge Funds Weigh In On Atara Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Atara Biotherapeutics by 0.8% during the fourth quarter. Bank of America Corp DE now owns 205,170 shares of the biotechnology company’s stock valued at $2,731,000 after buying an additional 1,543 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Atara Biotherapeutics during the fourth quarter worth approximately $48,000. Geode Capital Management LLC increased its position in Atara Biotherapeutics by 9.5% during the third quarter. Geode Capital Management LLC now owns 46,720 shares of the biotechnology company’s stock worth $380,000 after purchasing an additional 4,043 shares during the last quarter. Citadel Advisors LLC increased its position in Atara Biotherapeutics by 2.6% during the fourth quarter. Citadel Advisors LLC now owns 267,353 shares of the biotechnology company’s stock worth $3,558,000 after purchasing an additional 6,873 shares during the last quarter. Finally, FMR LLC increased its position in Atara Biotherapeutics by 41.7% during the third 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. Hedge funds and other institutional investors own 70.90% of the company’s stock.

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.