Citigroup Maintains Atara Biotherapeutics Inc to Sell with Price Target $8.00

Brokerage firm Citigroup Maintains its rating on Atara Biotherapeutics Inc(NASDAQ:ATRA). In a research note issued to the investors, the brokerage major Lowers the price-target to $8.00 per share. The shares have been rated Sell. The rating by Citigroup was issued on Aug 19, 2016.

Atara Biotherapeutics Inc (ATRA) shares turned negative on Mondays trading session with the shares closing down -0.23 points or -1.16% at a volume of 81,715. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.93. The peak price level was also seen at $19.93 while the days lowest was $19.26. Finally the shares closed at $19.6. The 52-week high of the shares is $49.94 while the 52-week low is $13.31. According to the latest information available, the market cap of the company is $565 M.

Atara Biotherapeutics Inc(ATRA) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $-0.66. Analysts had estimated an EPS of $-0.61.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, Christopher Haqq (Chief Medical Officer) sold 1,346 shares at $22.14 per share price.Also, On Aug 17, 2016, Gad Soffer (Chief Operating Officer) sold 5,356 shares at $21.69 per share price.On Jul 11, 2016, Isaac E. Ciechanover (Chief Executive Officer) sold 9,600 shares at $22.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Atara Biotherapeutics Inc. is a clinical stage biopharmaceutical company. The Company is focused on developing therapeutics for serious unmet medical needs with an initial focus on muscle wasting conditions and oncology. 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. PINTA 745 is in a Phase II clinical trial. The Company’s second product candidate STM 434 which is in a Phase I clinical study is a soluble ActR2B receptor that binds Activin A. The Company has five additional product candidates: ATA 842 a humanized antibody targeting myostatin; ATA 777 a fully human antibody targeting Activin A; ATA M43 a fully human anti-ActR2A/2B monoclonal antibody; STM 217 a soluble ActR2B receptor-IgG Fc fusion protein and a close analog of STM 434 and ActR2B5 a soluble ActR2B receptor that can be fused to an IgG Fc receptor.

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