Atara Biotherapeutics (NASDAQ:ATRA) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Atara Biotherapeutics, Inc. (NASDAQ:ATRA)’s share price 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 traded.

Wall Street Analysts Forecast Growth

ATRA has been the subject of several recent research reports. HC Wainwright reissued a “neutral” rating on shares of Atara Biotherapeutics in a research note on Tuesday, January 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price target on shares of Atara Biotherapeutics in a research note on Tuesday, March 11th. TD Cowen raised shares of Atara Biotherapeutics to a “strong-buy” rating in a research note on Friday, November 29th. Rodman & Renshaw began coverage on shares of Atara Biotherapeutics in a research note on Friday, December 20th. They issued a “buy” rating and a $25.00 price target for the company. Finally, RODMAN&RENSHAW cut shares of Atara Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Atara Biotherapeutics Stock Down 2.1 %

The business’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $9.73. The stock has a market cap of $41.13 million, a PE ratio of -0.27 and a beta of 0.49.

Atara Biotherapeutics (NASDAQ:ATRA) last released its quarterly earnings data on Friday, March 7th. The biotechnology company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.82) by $2.63. The firm had revenue of $32.75 million during the quarter, compared to analysts’ expectations of $20.58 million. As a group, equities research analysts anticipate that Atara Biotherapeutics, Inc. will post -10.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atara Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Atara Biotherapeutics during the fourth quarter valued at about $48,000. Cubist Systematic Strategies LLC purchased a new position in shares of Atara Biotherapeutics during the fourth quarter valued at about $169,000. Citadel Advisors LLC increased its position in shares of Atara Biotherapeutics by 2.6% during the fourth quarter. Citadel Advisors LLC now owns 267,353 shares of the biotechnology company’s stock valued at $3,558,000 after buying an additional 6,873 shares during the period. Bank of America Corp DE increased its position 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. Finally, Northern Trust Corp purchased a new position in shares of Atara Biotherapeutics during the fourth quarter valued at about $149,000. 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.