Citigroup Lowers their Rating for Shares of Atara Biotherapeutics (NASDAQ:ATRA). Are Other Analysts Next?

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Atara Biotherapeutics (NASDAQ:ATRA) Receives a Downgrade

In a note made public earlier today, Citigroup cut shares of Atara Biotherapeutics (NASDAQ:ATRA) to a “Sell” rating from their previous “Buy” rating. The firm currently has a $16.00 price target on shares. The price target from Citigroup indicates a possible downside of -26.71% from the previous close of the stock.

From a total of 5 analysts covering Atara Biotherapeutics (NASDAQ:ATRA) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $80 while the lowest target price is $30. The mean of all analyst targets is $53.8 with a 167.45% above today’s ($22.06) stock price. Atara Biotherapeutics was the topic of 4 analyst reports since September 9, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on November 18 with “Neutral” rating. JMP Securities initiated ATRA stock in a recent report from September 25 with “Mkt Perform” rating.

Approximately 819,414 shares of stock traded hands or 116.16% up from the average. Atara Biotherapeutics Inc (NASDAQ:ATRA) has declined 47.81% since May 12, 2015 and is downtrending. It has underperformed by 44.14% the S&P500.

The overall sentiment of institutions has decreased to 4.06 in Q2 2015. Its down 0.51, from 4.57 in 2015Q2. The ratio turned negative, as 7 institutions have sold all the shares of Atara Biotherapeutics Inc that they owned while 10 funds have taken shares off the table. 20 funds have purchased shares for the first time while 49 added to their positions. These institutions now hold 52.65 million shares or 100.24% more than the 26.30 million shares they owned in 2015Q2.

The Fund Ecor1 Capital Llc currently is holding shares equating to 11.5% of its total portfolio in Atara Biotherapeutics Inc representing a total of 803,458 shares. Another fund,Baupost Group Llc Ma, is holding a total of 5.36 million shares equating to 2.81% of their holdings. Additionally, Rtw Investments Llc has a 259,317 share stake in Atara Biotherapeutics Inc which represents 2.57% of their total portfolio. The Fund, Bridger Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 1.57% of their total portfolio. Finally Ghost Tree Capital Llc, a fund which is based in the state of New York reported a total holdings of 100,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 11, 2015, shareholders of Atara Biotherapeutics Inc have witnessed 0 buys, and a total of 18 insider sales equating to a net activity of approximately $4.72 million . Ciechanover Isaac E. sold 3,200 shares worth approximately $82,726. Haqq Christopher sold 5,000 shares worth approximately $209,961. Gallagher Carol Giltner sold 17,622 shares worth approximately $746,090. Soffer Gad sold 16,489 shares worth approximately $820,526. The company insider Mcgrath John sold 6,000 shares worth $296,280.

Atara Biotherapeutics, Inc. is a clinical stage biopharmaceutical company. The company has a market cap of $627.42 million. The Firm is focused on developing therapeutics for serious unmet medical needs with an initial focus on muscle wasting conditions and oncology. It currently has negative earnings. The Company’s lead product candidate, PINTA 745 is a peptibody that binds myostatin and inhibits its corresponding signal transduction, thereby blocking the negative regulation of skeletal muscle growth.

According to Zacks Investment Research, “Atara Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company. It is focused on developing therapeutics for serious unmet medical needs, with an initial focus on muscle wasting conditions and oncology. The company’s lead programs are focused on myostatin and activin, members of the TGF-beta family of proteins that have demonstrated the potential to have therapeutic benefit in a number of clinical indications. Its lead product candidate is PINTA 745, which is in a Phase II clinical trial for the treatment of protein-energy wasting in end-stage renal disease patients. Atara Biotherapeutics, Inc. is headquartered in Brisbane, California.”

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