Atara Biotherapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Robert Burns downgraded Atara Biotherapeutics to Neutral from Buy without a price target. The Phase 2 EMBOLD study of ATA188 in non-active progressive multiple sclerosis did not meet the primary endpoint of confirmed disability improvement by expanded disability status scale at 12 months compared to placebo, the analyst tells investors in a research note. The firm downgraded the shares after removing ATA188 from its discounted cash flow based valuation.