Atara Biotherapeutics (ATRA) Shares Down 5.3% After Insider Selling

Shares of Atara Biotherapeutics Inc (NASDAQ:ATRA) were down 5.3% during mid-day trading on Monday following insider selling activity. The stock traded as low as $37.01 and last traded at $39.47. Approximately 1,383,248 shares traded hands during trading, an increase of 10% from the average daily volume of 1,258,557 shares. The stock had previously closed at $41.70.

Specifically, EVP Gad Soffer sold 7,000 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $15.00, for a total transaction of $105,000.00. Following the sale, the executive vice president now owns 166,342 shares of the company’s stock, valued at $2,495,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Heather D. Turner sold 12,214 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $38.01, for a total transaction of $464,254.14. Following the sale, the executive vice president now directly owns 77,112 shares in the company, valued at approximately $2,931,027.12. The disclosure for this sale can be found here. Insiders have sold 280,702 shares of company stock worth $7,176,829 in the last quarter. 16.20% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on ATRA shares. Canaccord Genuity reissued a “buy” rating on shares of Atara Biotherapeutics in a research note on Friday, December 29th. Citigroup raised shares of Atara Biotherapeutics from a “sell” rating to a “neutral” rating and set a $18.00 price objective on the stock in a research note on Wednesday, January 3rd. BidaskClub raised shares of Atara Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 23rd. ValuEngine raised shares of Atara Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Cowen started coverage on shares of Atara Biotherapeutics in a research note on Friday, January 26th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.60.

The company has a market cap of $1,210.00, a P/E ratio of -11.38 and a beta of 2.71.

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Atara Biotherapeutics in the third quarter worth approximately $142,000. Voya Investment Management LLC lifted its stake in shares of Atara Biotherapeutics by 16.2% in the second quarter. Voya Investment Management LLC now owns 11,813 shares of the biotechnology company’s stock worth $165,000 after buying an additional 1,651 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Atara Biotherapeutics in the third quarter worth approximately $170,000. The Manufacturers Life Insurance Company lifted its stake in shares of Atara Biotherapeutics by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 20,377 shares of the biotechnology company’s stock worth $285,000 after buying an additional 1,369 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Atara Biotherapeutics by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,718 shares of the biotechnology company’s stock worth $304,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies for patients with severe and life-threatening diseases. The Company operates through the business of developing and commercializing therapeutics segment. The Company is focused on developing allogeneic or third-party derived antigen-specific T-cells.

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