Zacks Investment Research Downgrades Atreca (NASDAQ:BCEL) to Sell

Atreca (NASDAQ:BCEL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Atreca is a biopharmaceutical company utilizing its differentiated platform to discover and develop novel antibody-based immunotherapeutics to treat a range of solid tumor types. While more traditional oncology drug discovery approaches attempt to generate antibodies against known targets, Atreca’s approach relies on the human immune system to direct it to unique antibody-target pairs from patients experiencing a clinically meaningful, active immune response against their tumors. These unique antibody-target pairs represent a potentially novel and previously unexplored landscape of immuno-oncology targets. “

Separately, Jefferies Financial Group started coverage on shares of Atreca in a research note on Monday, February 8th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Atreca presently has a consensus rating of “Buy” and an average target price of $26.25.

Atreca stock opened at $10.80 on Monday. Atreca has a 1 year low of $10.61 and a 1 year high of $25.03. The firm has a 50 day moving average price of $13.38 and a 200 day moving average price of $15.11. The company has a market cap of $397.77 million, a price-to-earnings ratio of -3.83 and a beta of 0.08.

Atreca (NASDAQ:BCEL) last released its earnings results on Thursday, February 25th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.02. As a group, analysts anticipate that Atreca will post -2.73 EPS for the current fiscal year.

In other news, Director William Hewitt Robinson sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $19.07, for a total value of $95,350.00. Following the completion of the transaction, the director now directly owns 373,948 shares in the company, valued at $7,131,188.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tito Serafini sold 10,000 shares of the company’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $18.93, for a total transaction of $189,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,000 shares of company stock valued at $635,850. 9.90% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in BCEL. Vigilare Wealth Management raised its holdings in Atreca by 10.6% in the first quarter. Vigilare Wealth Management now owns 22,050 shares of the company’s stock valued at $338,000 after acquiring an additional 2,120 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Atreca by 49.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 27,958 shares of the company’s stock valued at $452,000 after acquiring an additional 9,308 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Atreca by 22.0% in the fourth quarter. JPMorgan Chase & Co. now owns 12,808 shares of the company’s stock valued at $207,000 after acquiring an additional 2,312 shares in the last quarter. Old Well Partners LLC acquired a new stake in Atreca in the fourth quarter valued at $162,000. Finally, Squarepoint Ops LLC acquired a new stake in Atreca in the fourth quarter valued at $354,000. Institutional investors and hedge funds own 69.64% of the company’s stock.

Atreca Company Profile

Atreca, Inc, a biopharmaceutical company, discovers and develops antibody-based immunotherapeutics to treat a range of solid tumor types. Its lead product candidate is ATRC-101, a monoclonal antibody with a novel mechanism of action and target derived from an antibody identified using its discovery platform.

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