Jill Henrich, the Executive Vice President and Chief Regulatory Officer of Atara Biotherapeutics, Inc. (NASDAQ:ATRA), recently sold 1,000 shares of the company’s common stock. The transaction, which took place on November 18, 2024, was executed at a weighted average price of $11.198 per share, totaling approximately $11,198.
The sale was made to cover tax withholding obligations related to the vesting of previously granted restricted stock units. Following this sale, Henrich now holds 19,378 shares of Atara Biotherapeutics directly.
In other recent news, Atara Biotherapeutics has made significant strides in its operations and financial position. The company secured $36 million through a stock sale, extending its cash runway into 2027. This move supports the anticipated U.S. approval of its T-cell therapy product, tab-cel®, and the progress of ATA3219. Atara also recently appointed Eric Hyllengren as the new Chief Operating Officer, while he continues to serve as Chief Financial Officer.
Financial services firm Stifel has raised its target for Atara Bio shares to $10.00, maintaining a hold rating. This adjustment comes ahead of the expected release of data on ATA3219 for non-Hodgkin lymphoma in early 2025. Additionally, Atara has announced the U.S. Food and Drug Administration's acceptance of its Biologics License Application for tab-cel®, potentially leading to a $20 million milestone payment from Pierre Fabre Laboratories.
Finally, Mizuho (NYSE:MFG) Securities upgraded Atara Biotherapeutics from a Neutral to an Outperform rating, despite reducing the price target to $18 from $25. These are among the recent developments for Atara Biotherapeutics, highlighting the company's ongoing financial and operational progress.
InvestingPro Insights
In light of Jill Henrich's recent stock transaction, it's worth examining some key financial metrics and insights for Atara Biotherapeutics. According to InvestingPro data, the company's market capitalization stands at $60.43 million, reflecting its current position in the biotech sector.
Atara's financial health presents a mixed picture. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, which could provide some financial flexibility. However, this is tempered by another tip indicating that Atara is quickly burning through cash, a common challenge for biotech firms in the development stage.
The company's revenue growth is a standout figure, with a remarkable 2,111.34% increase over the last twelve months as of Q3 2024. This explosive growth aligns with another InvestingPro Tip suggesting that analysts anticipate sales growth in the current year. Despite this top-line expansion, Atara is not currently profitable, with a negative gross profit margin of -79.58%.
Investors should note that Atara's stock has shown strong performance over the short term, with a 13.5% return over the last month and an impressive 48.75% return over the last three months. However, the stock has taken a significant hit over the last week, declining by 25.11%.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips for Atara Biotherapeutics, providing a more comprehensive view of the company's financial situation and market position.
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