Baupost Group manager Seth Klarman (Trades, Portfolio) disclosed on Monday that he increased his stake in Atara Biotherapeutics Inc. (ATRA, Financial).
Trade details
Klarman invested in 895,000 shares of Atara for $39 per share. With this transaction, the manager expanded the portfolio 0.35%.
According to GuruFocus estimates, Klarman gained approximately 28% on the stock.
Company background
San Francisco-based Atara develops novel treatments for patients with cancer, autoimmune and viral diseases. GuruFocus ranks Atara’s financial strength 8 out of 10 as the company has no long-term debt and a robust Altman Z-score of 18.70.
Atara reported net losses of $119.50 million for fiscal 2017, up approximately $40 million from the prior year primarily due to higher research and development expenses.
CEO Isaac Ciechanover, M.D., said that the company “continued to advance its leadership in T-cell immunotherapy innovation” through several initiatives, including advancements in several off-the-shelf products. Throughout the past year, the U.S. Food and Drug Administration approved the company’s clinical trials for ATA188, a treatment for patients with multiple sclerosis. The company also initiated Phase 3 clinical studies for tab-cel, an off-the-shelf T-cell technology that can potentially treat patients with a “lifelong, asymptomatic infection” called Epstein-Barr virus.
See also
GuruFocus real-time picks also mentioned that Klarman divested his stake in Cascadian Therapeutics Inc. (CASC, Financial). However, Seattle Genetics Inc. (SGEN, Financial) disclosed on March 9 that it completed the tender offer for all outstanding shares of Cascadian. Cascadian then filed a “securities registration termination” form to the Securities and Exchange Commission on March 22.
Premium members can view historical portfolio information on over 150 gurus, including Steven Romick (Trades, Portfolio), Bill Ackman (Trades, Portfolio), Carl Icahn (Trades, Portfolio) and Warren Buffett (Trades, Portfolio). You can also view the aggregated portfolio or guru trades from a specific sector.
Disclosure: The author has no positions in the stocks mentioned.
