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Jill Henrich, Executive Vice President and Chief Regulatory Officer at Atara Biotherapeutics, Inc. (NASDAQ:ATRA), recently sold 1,059 shares of the company’s common stock. The transaction, which took place on March 3, 2025, was valued at approximately $7,409, with shares sold at a weighted average price of $6.997 each. The sale comes as ATRA’s stock has declined nearly 59% over the past year, according to InvestingPro data, with the company currently trading below its Fair Value.
The sale was conducted to satisfy tax withholding obligations related to the vesting of previously granted restricted stock units. Following this transaction, Henrich holds 18,679 shares directly. This total includes 360 shares acquired through the company’s Employee Stock Purchase Plan in late 2024. With the company’s next earnings report scheduled for March 7, 2025, investors tracking ATRA’s performance can access additional insights and 12 exclusive ProTips through InvestingPro.
In other recent news, Atara Biotherapeutics has announced a significant workforce reduction, planning to cut about half of its current employees by June 2025. This decision follows a Complete Response Letter (CRL) from the FDA concerning Atara’s EBVALLO application and the subsequent halt of several clinical trials. H.C. Wainwright maintained a Neutral rating on Atara’s stock, reflecting the challenges faced by the company. Meanwhile, Stifel analysts adjusted their outlook by reducing the price target to $5, citing delays and increased risks due to FDA holds on therapies ATA3219 and EBVALLO. Canaccord Genuity also revised its price target to $17 but kept a Buy rating, expressing confidence in resolving manufacturing issues.
Atara Biotherapeutics recently secured a $15 million equity line of credit from Redmile to strengthen its financial position. Despite the FDA setback, Atara is committed to working with partners to resolve issues and secure U.S. approval for EBVALLO, which has already received marketing authorization from the European Commission. The company has also amended its bylaws, enhancing stockholder meeting procedures and director nomination requirements. These developments highlight Atara’s ongoing efforts to navigate regulatory challenges and streamline its governance processes.
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