Atara Biotherapeutics (NASDAQ:ATRA) Announces Earnings Results

Key Points

• Atara Biotherapeutics reported earnings of $0.19 per share, exceeding analysts' expectations by $0.51, as analysts had predicted a loss of ($0.32).
• Despite a positive earnings report, the company's stock fell by $0.63 to $10.32 during midday trading.
• Insider Innovation Ltd Panacea increased its stake in Atara Biotherapeutics by acquiring 19,335 shares, totaling nearly $186,389, reflecting a confidence in the company's future prospects.

Atara Biotherapeutics (NASDAQ:ATRA - Get Free Report) posted its quarterly earnings data on Monday. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.51, Zacks reports. The business had revenue of $17.58 million during the quarter, compared to the consensus estimate of $4.23 million. Atara Biotherapeutics had a net margin of 3.07% and a negative return on equity of 8.34%.

Atara Biotherapeutics Trading Down 0.8%

ATRA stock traded down $0.09 during trading on Friday, hitting $11.63. The company had a trading volume of 8,159 shares, compared to its average volume of 112,379. The firm has a market capitalization of $81.68 million, a price-to-earnings ratio of -27.11 and a beta of 0.26. The business has a 50 day moving average of $9.77 and a 200 day moving average of $8.10. Atara Biotherapeutics has a fifty-two week low of $5.01 and a fifty-two week high of $18.70.

Insiders Place Their Bets

In related news, major shareholder Innovation Ltd Panacea acquired 19,335 shares of Atara Biotherapeutics stock in a transaction that occurred on Thursday, July 17th. The stock was acquired at an average price of $9.64 per share, with a total value of $186,389.40. Following the completion of the acquisition, the insider directly owned 1,350,000 shares of the company's stock, valued at $13,014,000. This trade represents a 1.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Atara Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Atara Biotherapeutics in the 2nd quarter worth approximately $31,000. Marshall Wace LLP acquired a new position in shares of Atara Biotherapeutics in the 2nd quarter worth approximately $327,000. Finally, Geode Capital Management LLC grew its stake in shares of Atara Biotherapeutics by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 60,136 shares of the biotechnology company's stock worth $464,000 after purchasing an additional 1,457 shares during the last quarter. 70.90% of the stock is currently owned by institutional investors.

About Atara Biotherapeutics

Atara Biotherapeutics, Inc engages in the development of transformative therapies for patients with solid tumors, hematologic cancers, and autoimmune diseases in the United States and the United Kingdom. Its lead product includes Tab-cel (tabelecleucel), a T-cell immunotherapy program that is in Phase 3 clinical trials for the treatment of epstein-barr virus (EBV) driven post-transplant lymphoproliferative disease, as well as nasopharyngeal carcinoma.