Atara Biotherapeutics (NASDAQ:ATRA) Stock Passes Above 50-Day Moving Average - Here's Why

Key Points

• Atara Biotherapeutics stock crossed above its fifty-day moving average of $11.31, closing at $12.16, indicating positive trading momentum.
• The company reported a profit of $0.19 per share for the last quarter, significantly exceeding expectations, with revenue also surpassing estimates at $17.58 million.
• Insider activity showed a major shareholder increased their stake by purchasing 55,000 shares at $12.19 each, raising confidence in the company’s future prospects.

Atara Biotherapeutics, Inc. (NASDAQ:ATRA - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $11.31 and traded as high as $12.22. Atara Biotherapeutics shares last traded at $12.16, with a volume of 29,000 shares traded.

Atara Biotherapeutics Stock Up 1.2%

The stock has a 50-day moving average of $11.50 and a 200 day moving average of $8.71. The stock has a market cap of $81.78 million, a PE ratio of -27.09 and a beta of 0.22.

Atara Biotherapeutics (NASDAQ:ATRA - Get Free Report) last posted its earnings results on Monday, August 11th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.51. Atara Biotherapeutics had a negative return on equity of 8.34% and a net margin of 3.07%.The company had revenue of $17.58 million during the quarter, compared to analysts' expectations of $4.23 million. Research analysts forecast that Atara Biotherapeutics, Inc. will post -10.39 EPS for the current fiscal year.

Insider Transactions at Atara Biotherapeutics

In related news, major shareholder Innovation Ltd Panacea bought 55,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $12.19 per share, for a total transaction of $670,450.00. Following the completion of the acquisition, the insider owned 1,405,000 shares in the company, valued at approximately $17,126,950. This trade represents a 4.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.00% of the company's stock.

Institutional Trading of Atara Biotherapeutics

A number of institutional investors have recently bought and sold shares of ATRA. Northern Trust Corp purchased a new stake in Atara Biotherapeutics during the 4th quarter worth about $149,000. Bank of America Corp DE lifted its holdings in shares of Atara Biotherapeutics by 0.8% in the 4th quarter. Bank of America Corp DE now owns 205,170 shares of the biotechnology company's stock valued at $2,731,000 after purchasing an additional 1,543 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Atara Biotherapeutics by 2.6% in the 4th quarter. Citadel Advisors LLC now owns 267,353 shares of the biotechnology company's stock valued at $3,558,000 after purchasing an additional 6,873 shares during the last quarter. Staley Capital Advisers Inc. lifted its holdings in shares of Atara Biotherapeutics by 60.0% in the 1st quarter. Staley Capital Advisers Inc. now owns 80,000 shares of the biotechnology company's stock valued at $475,000 after purchasing an additional 30,000 shares during the last quarter. Finally, EcoR1 Capital LLC lifted its holdings in shares of Atara Biotherapeutics by 7.7% in the 1st quarter. EcoR1 Capital LLC now owns 573,183 shares of the biotechnology company's stock valued at $3,405,000 after purchasing an additional 41,049 shares during the last quarter. 70.90% of the stock is owned by hedge funds and other institutional investors.

Atara Biotherapeutics Company Profile

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.