Nguyen AnhCo, the President and CEO of Atara Biotherapeutics, Inc. (NASDAQ:ATRA), has reported the sale of 1,664 shares of common stock. The transaction, which took place on November 18, 2024, was executed at a weighted average price of $11.198 per share, amounting to a total value of $18,633.
The shares were sold automatically to cover tax withholding obligations related to the vesting of previously granted restricted stock units. Following this transaction, AnhCo holds 77,454 shares directly.
In other recent news, Atara Biotherapeutics has been the subject of several significant developments. The company has secured $36 million through a stock sale, issuing common stock and pre-funded warrants. This move is expected to extend Atara's cash runway into 2027, supporting the anticipated U.S. approval of its T-cell therapy product, tab-cel®, and the progress of ATA3219.
In addition, Atara has announced the appointment of Eric Hyllengren as its new Chief Operating Officer. Hyllengren, who retains his current role as Chief Financial Officer, has been with Atara since August 2018, serving in various capacities including Vice President of Finance and Head of Investor Relations.
Financial services firm Stifel has updated its outlook on Atara Biotherapeutics, raising its price target to $10.00 from the previous $9.00, while maintaining a Hold rating. The adjustment reflects Atara's confirmed timeline for releasing data on ATA3219 for non-Hodgkin lymphoma in the first quarter of 2025 and initial data on Lupus Nephritis expected by mid-2025.
Lastly, Mizuho (NYSE:MFG) Securities has upgraded Atara Biotherapeutics from a Neutral to an Outperform rating, despite reducing the price target to $18 from $25, indicating a positive outlook on the company's core T-cell technology. These are among the recent developments impacting Atara Biotherapeutics.
InvestingPro Insights
As Atara Biotherapeutics' CEO Nguyen AnhCo sells shares to cover tax obligations, investors might be curious about the company's financial health and market performance. According to InvestingPro data, Atara's market capitalization stands at $60.43 million, reflecting its current position in the biotech sector.
Despite the recent insider sale, Atara has shown impressive revenue growth, with a staggering 2,111.34% increase in the last twelve months as of Q3 2024. This substantial growth could be a positive sign for investors looking for high-growth potential in the biotech space.
However, it's important to note that Atara is currently not profitable, with a negative gross profit margin of -79.58% over the same period. This aligns with an InvestingPro Tip indicating that the company suffers from weak gross profit margins.
On the market performance front, Atara has demonstrated strong returns over the last three months, with a price total return of 48.75%. This recent momentum is noteworthy, especially considering the stock has taken a significant hit over the last week, with a -25.11% return.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Atara Biotherapeutics, providing a deeper understanding of the company's financial position and market outlook.
Nguyen AnhCo, the President and CEO of Atara Biotherapeutics, Inc. (NASDAQ:ATRA), has reported the sale of 1,664 shares of common stock. The transaction, which took place on November 18, 2024, was executed at a weighted average price of $11.198 per share, amounting to a total value of $18,633.
The shares were sold automatically to cover tax withholding obligations related to the vesting of previously granted restricted stock units. Following this transaction, AnhCo holds 77,454 shares directly.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.