Atara Biotherapeutics (NASDAQ:ATRA), a biotechnology company, recently received a reissued “buy” rating from HC Wainwright, according to a research note released on September 26, 2023. The equities research analysts at HC Wainwright reaffirmed their positive outlook on the stock and set a price objective of $28.00.
On Tuesday, September 26th, shares of NASDAQ:ATRA opened at $1.63. The company currently has a market capitalization of $164.79 million and operates with a price-to-earnings ratio of -0.55. Its beta stands at 1.03. The stock’s 50-day moving average is $1.78, while its two-hundred day moving average is $2.14.
Over the past year, Atara Biotherapeutics has experienced fluctuations in its share price, with a 52-week low of $1.25 and a high of $5.64.
Various institutional investors and hedge funds have recently bought and sold shares of Atara Biotherapeutics’ stock. Tower Research Capital LLC TRC significantly increased its position in the company during the first quarter by 334%, now owning 9,041 shares worth approximately $26,000 after acquiring an additional 6,958 shares in the last quarter.
Ergoteles LLC acquired a new stake in Atara Biotherapeutics during the second quarter valued at about $33,000, while Point72 Middle East FZE purchased their position during the same period for approximately $41,000.
Two Sigma Investments LP also acquired a new stake in Atara Biotherapeutics in Q3 for around $45,000. Additionally, American Century Companies Inc., obtained an investment in the fourth quarter worth approximately $49,000.
Hedge funds and other institutional investors hold around 88.79% of Atara Biotherapeutics’ stock, indicating a widespread interest in the company’s performance.
In its latest earnings report released on August 8th, Atara Biotherapeutics reported an EPS (earnings per share) of ($0.68) for the quarter, falling short of the consensus estimate of ($0.65) by $0.03. The biotech firm also disclosed a negative net margin of 4,437.45% and a negative return on equity of 315.45%. While analysts had anticipated revenue to reach $3.36 million, Atara Biotherapeutics generated only $0.96 million during the quarter.
Despite these figures, equities research analysts continue to expect Atara Biotherapeutics to post a negative EPS of -2.6 for this year.
The reissued “buy” rating from HC Wainwright reflects optimism regarding Atara Biotherapeutics’ future prospects and potential growth opportunities within the biotechnology industry. Investors will closely monitor the company’s progress moving forward.
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StockNews.com Issues ‘Sell’ Rating for Atara Biotherapeutics Following CEO’s Share Sale
On September 26, 2023, StockNews.com initiated coverage on Atara Biotherapeutics and issued a “sell” rating for the company. This report follows CEO Pascal Touchon’s recent transaction in which he sold 30,766 shares of the business’s stock on August 16th.
The average price at which the stock was sold stood at $1.65, resulting in a total transaction value of $50,763.90. After this sale, Touchon now possesses 675,905 shares of the company’s stock with an approximate valuation of $1,115,243.25.
The disclosure regarding this transaction can be found in a filing with the Securities & Exchange Commission (SEC), accessible through the provided hyperlink. Moreover, it is worth noting that insiders have collectively offloaded 47,624 shares of Atara Biotherapeutics’ stock over the past ninety days. These transactions had a cumulative value of $78,580 and currently comprise 4.50% of the total ownership by company insiders.
This news has stirred curiosity and raised questions among investors and industry experts alike. The initiation of coverage with a “sell” rating by StockNews.com suggests a potential downside for Atara Biotherapeutics. Such ratings are often based on comprehensive analysis and evaluation of various factors such as financial performance, market trends, competitive landscape, and growth prospects.
Investors closely track these ratings as they provide valuable guidance when making investment decisions. A “sell” rating indicates cautionary advice to shareholders regarding the future prospects of the company’s stock.
Additionally, CEO Pascal Touchon’s recent share sale adds another layer to this unfolding narrative surrounding Atara Biotherapeutics. Investors may interpret this move differently depending on their perspectives. Some might view it as a red flag if they believe that insiders possess valuable insights into the company’s outlook that prompted Touchon to reduce his stake.
Others may view it as a routine transaction aimed at diversifying the CEO’s investment portfolio or meeting personal financial obligations. Nevertheless, the disclosure of this transaction through an SEC filing ensures transparency and allows stakeholders to assess the motivations behind such actions.
Given these developments, market participants await further updates from Atara Biotherapeutics. The company will likely need to address concerns raised by StockNews.com’s “sell” rating and provide clarification on Touchon’s share sale. It is crucial for companies to proactively communicate with their shareholders during times of perplexity and uncertainty.
In conclusion, Atara Biotherapeutics finds itself at a critical juncture following StockNews.com’s coverage initiation with a “sell” rating and CEO Pascal Touchon’s recent share sale. These events have piqued interest in the company among investors who eagerly await additional details and clarifications from Atara Biotherapeutics’ management team. As the situation evolves, it remains vital for the company to engage with its stakeholders transparently and effectively navigate this period of scrutiny.
