Canaccord Genuity Group Reiterates “Buy” Rating for Atara Biotherapeutics (NASDAQ:ATRA)

Atara Biotherapeutics (NASDAQ:ATRA)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $17.00 target price on the biotechnology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 146.73% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “neutral” rating on shares of Atara Biotherapeutics in a report on Tuesday, January 28th. RODMAN&RENSHAW lowered shares of Atara Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. TD Cowen upgraded shares of Atara Biotherapeutics to a “strong-buy” rating in a report on Friday, November 29th. Finally, Rodman & Renshaw assumed coverage on shares of Atara Biotherapeutics in a research note on Friday, December 20th. They set a “buy” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Atara Biotherapeutics Stock Up 4.2 %

Atara Biotherapeutics stock opened at $6.89 on Tuesday. The firm has a market cap of $40.37 million, a PE ratio of -0.27 and a beta of 0.49. Atara Biotherapeutics has a 52-week low of $5.40 and a 52-week high of $20.81. The company’s 50 day moving average is $9.47 and its two-hundred day moving average is $9.73.

Atara Biotherapeutics (NASDAQ:ATRA) last released its earnings results on Friday, March 7th. The biotechnology company reported ($1.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.82) by $2.63. The business had revenue of $32.75 million for the quarter, compared to analyst estimates of $20.58 million. On average, equities research analysts anticipate that Atara Biotherapeutics will post -10.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC grew its position in Atara Biotherapeutics by 2.6% during the 4th 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. Bank of America Corp DE grew its position in Atara Biotherapeutics by 0.8% during the 4th quarter. Bank of America Corp DE now owns 205,170 shares of the biotechnology company’s stock worth $2,731,000 after purchasing an additional 1,543 shares during the last quarter. Vestal Point Capital LP grew its position 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 worth $1,014,000 after purchasing an additional 12,677 shares during the last quarter. Geode Capital Management LLC grew its position in Atara Biotherapeutics by 17.2% during the 4th quarter. Geode Capital Management LLC now owns 54,744 shares of the biotechnology company’s stock worth $729,000 after purchasing an additional 8,024 shares during the last quarter. Finally, Staley Capital Advisers Inc. grew its position in Atara Biotherapeutics by 25.0% during the 4th quarter. Staley Capital Advisers Inc. now owns 50,000 shares of the biotechnology company’s stock worth $666,000 after purchasing an additional 10,000 shares during the last quarter. 70.90% of the stock is owned by hedge funds and other 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.