Redmile Group LLC recently announced the acquisition of new stake in Atara Biotherapeutics Inc. (NASDAQ:ATRA). The institutional investor has increased its shareholding in the Healthcare company by 13.87% to 5.29 million shares with purchase of 0.64 million shares. This fresh investment now brings its stake to 7.40% valued currently at $77.12 million. In addition, Maverick Capital Ltd. raised its holdings by 0.24 million to 5.2 million shares. And The Vanguard Group, Inc. has lifted its position by 2.81% or 0.1 million shares – to 3.67 million shares.
With over 1.02 million Atara Biotherapeutics Inc. (ATRA) shares trading Thursday and a closing price of $13.03 on the day, the dollar volume was approximately $13.3 million. The shares have shown a negative weekly performance of -6.73% and its price on 07/30/20 gained nearly 2.28%. Currently, there are 61.21M common shares owned by the public and among those 43.24M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for ATRA have a consensus price objective of $27.67. The analysts have set the share’s price value over the next 12 months at a high of $70.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Atara Biotherapeutics Inc. stock is 2.00 for the next 12 months. But an upside of 81.39% will see the stock hit the forecast high price target while mean target price for the stock is $25.00.
Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 488,125 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 46,807 shares.
The top 3 mutual fund holders in Atara Biotherapeutics Inc. are SPDR S&P Biotech ETF, Vanguard Total Stock Market Index, and JPMorgan Small Cap Growth Fund. SPDR S&P Biotech ETF owns 2.2 million shares of the company’s stock, all valued at over $32.0 million. The company bought an additional 45021.0 shares recently to bring their total holdings to about 3.07% of the shares outstanding. JPMorgan Small Cap Growth Fund bought 0.71 million shares to bring its total holdings to over 1.72 million shares at a value of $25.08 million. JPMorgan Small Cap Growth Fund now owns shares totaling to 2.40% of the shares outstanding.
Shares of Atara Biotherapeutics Inc. (NASDAQ: ATRA) opened at $12.56, down -$0.18 from a prior closing price of $12.74. However, the script later closed the day at $13.03, up 2.28%. The company’s stock has a 5-day price change of -6.73% and 57.18% over the past three months. ATRA shares are trading -20.89% year to date (YTD), with the 12-month market performance down to -8.69% lower. It has a 12-month low price of $4.52 and touched a high of $19.36 over the same period. Currently, 1.02 million shares have been traded, compared to an average intraday trading volume of 1.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.90%, 3.50%, and 5.65% respectively.
Institutional ownership of Atara Biotherapeutics Inc. (NASDAQ: ATRA) shares accounts for 91.40% of the company’s 61.21M shares outstanding. Mutual fund holders own 33.59%, while other institutional holders and individual stakeholders account for 55.34% and 13.97% respectively.
It has a market capitalization of $943.37M and a beta (3y monthly) value of 2.29. The earnings-per-share (ttm) stands at -$5.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.82% over the week and 5.77% over the month.
Analysts forecast that Atara Biotherapeutics Inc. (ATRA) will achieve an EPS of -$1.18 for the current quarter, -$1.13 for the next quarter and -$4.08 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.48 while analysts give the company a high EPS estimate of -$0.99. Comparatively, EPS for the current quarter was -$1.6 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.70%, and 10.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Atara Biotherapeutics Inc. (ATRA) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 2 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the ATRA, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on June 30, 2020, with the firm’s price target at. H.C. Wainwright coverage for the Atara Biotherapeutics Inc. (ATRA) stock in a research note released on June 15, 2020 offered a Buy rating with a price target of $25. Citigroup was of a view on April 23, 2020 that the stock is Buy, while JP Morgan gave the stock Neutral rating on November 08, 2019, issuing a price target of $43- $22. Goldman on their part issued Sell rating on September 27, 2019.