Atara Biotherapeutics (ATRA) Stock Is Up 20%: What's Going On?

Atara Biotherapeutics Inc ATRA shares are trading higher by 30.7% to $8.87 Wednesday morning. The company announced a $36 million registered direct offering of 758,900 shares at $8.25 per share.

The offering, priced at a 15% premium to the company’s recent average stock price, involves the sale of 758,900 shares at $8.25 per share and 3,604,780 pre-funded warrants at $8.2499 per share. The pre-funded warrants are almost immediately exercisable. 

The investors include Redmile Group, EcoR1 Capital, Adiumentum Capital Management and a large public biotech company. The offering is expected to close around September 5.

Additionally, Greg Ciongoli, founder of Adiumentum Capital, will join Atara’s Board of Directors. The funds will be used for working capital and general corporate purposes.

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How To Buy ATRA Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Atara Biotherapeutics ATRA's case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, ATRA has a 52-week high of $49.00 and a 52-week low of $4.96.