Atara Biotherapeutics (ATRA) AI Stock Analysis

• Market Cap: $42.32M
• Dividend Yield: N/A
• Average Volume (3M): 378.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.19
• Revenue Growth: 51.27%
• EPS Growth: N/A
• Country: US
• Employees: 153
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.25
• Shares Outstanding: 7,210,235
• 10 Day Avg. Volume: 876,591
• 30 Day Avg. Volume: 378,597
• PEG Ratio: -0.06
• Price to Book (P/B): -5.89
• Price to Sales (P/S): 1.88
• P/FCF Ratio: -4.45
• Enterprise Value/Market Cap: 2.25
• Enterprise Value/Revenue: 0.79
• Enterprise Value/Gross Profit: 0.96
• Enterprise Value/Ebitda: 2.35
• 1Y Price Target: $6.00
• Price Target Upside: -62.00% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.21
• Revenue Forecast (FY): $26.70M

• Rating: 42 Neutral
• Price Target: $5.50 ▼(-65.17% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is weighed down primarily by weak financial quality (negative free cash flow and negative equity) and significant regulatory uncertainty around EBVALLO. Technicals are only modestly supportive in the very near term, while valuation support is limited due to a negative P/E and no dividend.

Positive Factors

Strategic partnership with Pierre Fabre

A commercial partner actively managing the U.S. regulatory engagement (Type A meeting, briefing book submission) meaningfully reduces Atara’s standalone commercialization burden. This durable partnership leverages Pierre Fabre’s regulatory and commercial capabilities and preserves Atara’s optionality while development and resubmission proceed.

Improved 2025 profitability and strong gross margins

A reported swing to net income in 2025 combined with persistently high gross margins supports the structural potential for profitable product economics if approvals and commercial scale are achieved. Reduced debt in 2025 also lowers fixed financing burden, improving long-term financial flexibility versus prior years.

Near-term cash relief via milestone extension and warrant

Extending a $9M milestone payment eases immediate cash outflows and lengthens runway without an immediate equity raise. The warrant issuance aligns counterparty incentives and offers contingent value, providing a durable source of optional liquidity or equity-linked support while regulatory work continues.

Negative Factors

Negative shareholder equity

Negative shareholders’ equity over multiple years is a structural capital-quality issue that erodes financial flexibility. It constrains access to traditional credit, may trigger covenant or supplier concerns, and signals the company has relied on losses and balance-sheet erosion, limiting resilience during protracted development or regulatory delays.

Continued negative operating and free cash flow

Sustained cash burn (material negative operating and free cash flow) necessitates repeated financing or milestone-dependent receipts. This structural cash gap pressures dilution risk, constrains investment in broader pipeline programs, and makes long-term planning contingent on successful partnership milestones or capital markets access.

Regulatory uncertainty from FDA CRL for EBVALLO

A CRL that challenges the adequacy of the pivotal trial is a fundamental barrier to U.S. commercialization. It creates a multi-quarter or multi-year pathway risk that can eliminate expected regulatory milestones and U.S. revenues, forcing reliance on partner resubmission, additional data or alternate regulatory strategies—structural constraints to near-term value realization.

Atara Biotherapeutics Business Overview & Revenue Model

Company Description

Atara Biotherapeutics, Inc., an off-the-shelf T-cell immunotherapy company, develops treatments for patients with cancer, autoimmune, and viral diseases in the United States. It is developing tabelecleucel, a T-cell immunotherapy that is Phase 3 clinical trials for the treatment of epstein-barr virus (EBV) driven post-transplant lymphoproliferative disease, as well as hematologic and solid tumors, including nasopharyngeal carcinoma. The company is also developing next-generation CAR T immunotherapies for patients with hematologic malignancies and solid tumors, including ATA2271 and ATA3271 for mesothelin; and ATA2431 and ATA3219 for B-cell malignancies, as well as ATA188 for the treatment of multiple sclerosis. In addition, it develops ATA368 program for patients with human papillomavirus associated cancers. Atara Biotherapeutics, Inc. has a license agreement with Memorial Sloan Kettering Cancer Center; license, and research and development collaboration agreement with QIMR Berghofer Medical Research Institute; and strategic collaboration with H. Lee Moffitt Cancer Center, as well as Bayer AG for mesothelin-targeted CAR T-cell therapies for solid tumors. The company was incorporated in 2012 and is headquartered in South San Francisco, California.

How the Company Makes Money

Atara Biotherapeutics has historically generated revenue primarily from collaboration and licensing arrangements rather than from large-scale product sales, reflecting its clinical-stage profile. Key revenue streams typically include (1) collaboration/partner revenue such as upfront payments, development and regulatory milestones, and potential commercial milestones tied to progress and commercialization by a partner; and (2) reimbursement of research and development services performed under collaboration agreements (often recognized as collaboration revenue depending on contract structure and accounting treatment). Royalty income can be a potential future stream if partnered products reach commercialization and Atara retains royalty rights, but specific royalty rates and timing depend on the terms of each agreement. If Atara commercializes any therapy itself, future revenues could also include product sales (and potentially manufacturing-related revenue), but commercial-scale product revenue is not consistently available while products remain in development or pending approval. Significant factors influencing earnings include the pace and outcomes of clinical trials, regulatory decisions, the structure and performance of partnerships (including whether milestones are achieved), and the company’s ability to fund development—often through equity financings and other capital-raising activities, which provide cash but are not operating revenue. Specific current partnership terms and the exact composition of recent-period revenue are null.

Atara Biotherapeutics Financial Statement Overview

Summary

Despite a 2025 swing to reported profitability and reduced debt, the overall financial profile remains high risk due to persistently negative free cash flow (continued cash burn) and negative shareholder equity, alongside a volatile and declining revenue base.

Income Statement

Results show a sharp turnaround in profitability in 2025 (annual): net income improved to about $32.7M versus a large loss in 2024, with strong gross margin (low-80% range). However, revenue declined ~21% in 2025 after growing in 2024, indicating an unstable top line. Longer-term history (2021–2023) reflects very large losses and highly volatile margins, underscoring that profitability may not be durable.

Balance Sheet

The balance sheet is strained by persistently negative shareholder equity in 2023–2025, which is a major red flag for financial flexibility and capitalization quality. Debt is relatively low in 2025 (~$9.3M) and has come down meaningfully from prior years, but negative equity makes leverage ratios less informative and highlights that the company has been funding itself through losses and balance-sheet erosion. Total assets also declined sharply from earlier periods, suggesting a shrinking capital base.

Cash Flow

Cash generation remains weak: operating cash flow and free cash flow were materially negative in each year shown, including about -$50.9M in 2025. Cash burn improved versus 2024 and dramatically versus 2022–2023, but the business is still not self-funding. The gap between reported profitability (2025 net income positive) and continued cash outflow raises concerns about earnings quality and near-term funding needs.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	120.77M	128.94M	8.57M	63.57M	20.34M
Gross Profit	99.56M	107.93M	-313.00K	63.57M	-261.66M
EBITDA	35.86M	-75.75M	-266.00M	-222.26M	-331.12M
Net Income	32.69M	-85.40M	-276.13M	-228.30M	-340.14M
Balance Sheet
Total Assets	20.23M	109.10M	165.50M	376.42M	468.13M
Cash, Cash Equivalents and Short-Term Investments	8.48M	42.50M	51.73M	242.82M	371.07M
Total Debt	9.35M	43.83M	57.87M	71.70M	28.27M
Total Liabilities	58.74M	206.38M	264.74M	249.78M	188.51M
Stockholders Equity	-38.50M	-97.28M	-99.23M	126.64M	279.61M
Cash Flow
Free Cash Flow	-50.94M	-68.96M	-194.20M	-274.62M	-231.10M
Operating Cash Flow	-50.94M	-68.72M	-192.98M	-270.43M	-220.52M
Investing Cash Flow	18.15M	8.62M	123.87M	202.96M	22.26M
Financing Cash Flow	16.10M	59.28M	2.01M	53.08M	103.94M

Atara Biotherapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.79
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATRA, the sentiment is Negative. The current price of 15.79 is above the 20-day moving average (MA) of 5.29, above the 50-day MA of 6.38, and above the 200-day MA of 10.97, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 50.01 is Neutral, neither overbought nor oversold. The STOCH value of 66.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ATRA.

Atara Biotherapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZNTL	53 Neutral	$195.80M	-1.02	-49.18%	―	-33.76%	17.54%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SRZN	50 Neutral	$218.57M	-0.39	―	―	-63.96%	-28.50%
TCRX	49 Neutral	$60.32M	-1.41	-71.28%	―	-10.03%	11.06%
MGNX	43 Neutral	$197.02M	-1.36	-81.13%	―	-9.70%	23.23%
ATRA	42 Neutral	$42.32M	-11.29	-41.78%	―	51.27%	―

Atara Biotherapeutics Corporate Events

Atara Plans FDA Type A Meeting on EBVALLO

On March 12, 2026, Atara Biotherapeutics announced that it has scheduled a Type A meeting with the U.S. Food and Drug Administration to discuss the Complete Response Letter issued on January 9, 2026, for the Biologics License Application of its product EBVALLO. The scheduled meeting marks a key regulatory step for Atara as it works to address the FDA’s concerns and determine a potential path forward for tabelecleucel’s approval in the U.S. market.

The most recent analyst rating on (ATRA) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Atara Biotherapeutics stock, see the ATRA Stock Forecast page.

Atara, Pierre Fabre seek FDA meeting on EBVALLO

On March 3, 2026, Atara Biotherapeutics reported that its partner Pierre Fabre Pharmaceuticals has requested a Type A meeting with the U.S. Food and Drug Administration to address issues raised in the Complete Response Letter issued on January 9, 2026, for the Biologics License Application for EBVALLO (tabelecleucel). The partners have submitted a briefing package arguing that the ALLELE study was adequate and well-controlled, supplemented by updated longer-term efficacy data, additional development data, and European post-marketing experience, underscoring the urgent need for tabelecleucel in patients with ultra-rare EBV-positive post-transplant lymphoproliferative disease and the potential path to revive U.S. approval prospects.

The most recent analyst rating on (ATRA) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Atara Biotherapeutics stock, see the ATRA Stock Forecast page.

Atara Biotherapeutics Extends Royalty Milestone, Issues Warrant

On February 20, 2026, Atara Biotherapeutics amended its existing Purchase and Sale Agreement with a fund managed by HealthCare Royalty, pushing back a one-time $9.0 million milestone payment tied to its Pierre Fabre commercialization deal from June 30, 2026 to January 1, 2028. The revised timing eases near-term cash obligations as Atara and its partner work through U.S. regulatory issues for tabelecleucel while continuing to serve patients in Europe.

In exchange for the extension, Atara issued HCRx a warrant to purchase up to 400,000 shares of its common stock at a nominal exercise price of $0.0001 per share, exercisable immediately with no expiration but subject to a 4.99% beneficial ownership cap and cashless exercise provisions. The warrant, issued under a private placement exemption, underscores HCRx’s ongoing support and gives the royalty fund equity-linked upside as Atara pursues a potential U.S. approval path for tabelecleucel and seeks to strengthen its financial flexibility.

The most recent analyst rating on (ATRA) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Atara Biotherapeutics stock, see the ATRA Stock Forecast page.

FDA Rejects Atara’s EBVALLO BLA, Commercial Path Uncertain

On January 12, 2026, Atara Biotherapeutics reported that the U.S. Food and Drug Administration issued a Complete Response Letter for EBVALLO (tabelecleucel), rejecting its Biologics License Application as a monotherapy for EBV-positive post-transplant lymphoproliferative disease in adults and children, despite previously resolving manufacturing compliance issues and raising no new safety concerns. The FDA, reversing its earlier stance, now deems the single-arm ALLELE trial inadequate to demonstrate effectiveness for accelerated approval, prompting Atara’s U.S. commercialization partner Pierre Fabre to seek a Type A meeting as the companies work to salvage a path forward for the therapy, while Atara continues a deep restructuring marked by a roughly 90% headcount reduction in 2025, amended commercialization milestones, a significant lease downsizing, and year-end 2025 cash, cash equivalents and short-term investments of about $8.5 million, subject to audit.

The most recent analyst rating on (ATRA) stock is a Hold with a $18.00 price target. To see the full list of analyst forecasts on Atara Biotherapeutics stock, see the ATRA Stock Forecast page.

Atara revises tab-cel commercialization milestones with Pierre Fabre

On December 30, 2025, Atara Biotherapeutics amended its commercialization agreement with Pierre Fabre Medicament, reducing potential regulatory milestone payments tied to FDA approval of a BLA for tab-cel from $40 million to $31 million in exchange for the opportunity to earn an additional $15 million milestone based on achieving a specified commercial milestone. The revised structure adjusts the balance between regulatory and commercial incentives, potentially aligning Pierre Fabre’s financial commitments more closely with tab-cel’s market performance and affecting the timing and composition of future milestone revenues for Atara.

The most recent analyst rating on (ATRA) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Atara Biotherapeutics stock, see the ATRA Stock Forecast page.