Atara gaining attention with innovative therapies and hedge fund investments

 Atara Biotherapeutics, Inc. has been the subject of buzz in recent months due to its development of revolutionary therapies for patients with solid tumors, hematologic cancers, and autoimmune diseases. The company has caught the attention of hedge funds, with Envestnet Asset Management Inc. having purchased a new position in Atara Biotherapeutics valued at approximately $112,000 during the first quarter alone. Bank of New York Mellon Corp also grew its stake in Atara Biotherapeutics during this time and now owns over 315,000 shares of the biotechnology company’s stock valued at $2.9 million.

Despite gaining significant attention from major players within the industry, Atara Biotherapeutics currently holds a consensus recommendation of “Hold” from the seven brokerages that cover the company according to Bloomberg reports. Of those seven brokerages, two have rated the stock with a sell rating, while two others have given it a hold rating and three have given it a buy rating.

One area where Atara Biotherapeutics excels is their T-cell immunotherapy program called Tab-cel (tabelecleucel). This innovative treatment is in Phase 3 clinical trials for the treatment of Epstein-Barr virus (EBV) driven post-transplant lymphoproliferative disease and nasopharyngeal carcinoma. If successful in these trials, it has the potential to transform how these diseases are treated.

Looking forward, analysts project that Atara Biotherapeutics’ average target price will be $19.38 within the next 12 months among brokers who have issued a report on the stock within the past year. As investors wait for more developments surrounding Tab-cel’s efficacy and success throughout clinical trials, they should keep an eye on how hedge funds continue to respond to this potentially game-changing biotechnology firm.

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