Benzinga | Jul 29, 2021 02:06PM EDT

Atreca Stock Selloff Triggered By Interim ATRC-101 Data Appears Overdone, Stifel Says

* After Atreca Inc (NASDAQ:BCEL) reported preliminary safety and efficacy ATRC-101 data, Stifel analyst Stephen Willey said the data "appear to be consistent with management's prior characterization of this update," both in terms of what is being made available and what is likely to be observed.

* Willey called it "extremely difficult to elucidate single-agent ATRC-101 activity in a small number of response-evaluable heavily pre-treated patients." He adds that he struggles to rationalize the stock's valuation at current levels "regardless of whether ATRC-101 proves viable over the longer-term."

* The analyst has a Buy rating on the shares.

* Price Action: During mid-day trading Thursday, BCEL stock was down 38.2% at $5.07.