Small Cap Gainers: ATIP, MCRB, AVID
3:00 pm Wednesday, November 10th, 2021
ATI Physical Therapy Inc (NYSE: ATIP) reported Q3 results. Net operating revs increased +7% yr/yr to $159 mln, in line with prior guidance. Adj. EBITDA was $8.5 mln. Co continues to expect FY21 revs of $620-630 mln. Co reported that it saw improved existing therapist retention and an acceleration of new hire adds, with clinical FTE increasing from 2,321 in July 2021 to 2,412 in September.
Seres Therapeutics Inc (NASDAQ: MCRB) reported results for Q3 and provided a business update. Co also announced a collaboration with Bacthera to manufacture SER-109, co’s lead product candidate for recurrent Clostridioides difficile infection. Seres Therapeutics, Inc., a microbiome therapeutics platform company, engages in developing bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease.
Avid Technology, Inc. (NASDAQ:AVID) posted upside Q3 EPS and revs. Subscription revs increased +56.4% yr/yr, reflecting continued growth in paid subscriptions for creative tools. Annual Contract Value as of September 30 increased +20.6% yr/yr. Raised its FY21 guidance. Avid Technology is an American technology and multimedia company based in Burlington, Massachusetts and founded in August 1987 by Bill Warner.
