Attovia Therapeutics (NASDAQ:ATTO) Earns Outperform Rating from Analysts at Leerink Partners

Key Points

• Leerink Partners initiated coverage of Attovia Therapeutics with an “outperform” rating and a $52 price target, implying approximately 151% upside from the reported $20.70 price. Morgan Stanley also began coverage with an “overweight” rating and a $39 target.
• Analyst sentiment is broadly positive: four analysts rate the stock a Buy, with an average price target of $41.50.
• Insider and institutional activity was supportive, including $47.3 million in insider purchases during the last quarter and a 23.4% increase in BlackRock’s position during the second quarter.

Stock analysts at Leerink Partners started coverage on shares of Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) in a research note issued to investors on Monday. The brokerage set an "outperform" rating and a $52.00 price target on the stock. Leerink Partners' price target would suggest a potential upside of 151.21% from the company's current price.

Separately, Morgan Stanley initiated coverage on shares of Attovia Therapeutics in a report on Monday. They issued an "overweight" rating and a $39.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $41.50.

Attovia Therapeutics Price Performance

NASDAQ:ATTO opened at $20.70 on Monday. Attovia Therapeutics has a 12-month low of $16.15 and a 12-month high of $24.32.

Insider Transactions at Attovia Therapeutics

In other Attovia Therapeutics news, major shareholder Goldman Sachs Group Inc purchased 500,000 shares of Attovia Therapeutics stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $17.00 per share, for a total transaction of $8,500,000.00. Following the transaction, the insider owned 3,020,632 shares of the company's stock, valued at $51,350,744. The trade was a 19.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Colin Walsh purchased 500,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $8,500,000.00. Following the completion of the acquisition, the director directly owned 3,020,632 shares of the company's stock, valued at approximately $51,350,744. This trade represents a 19.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,740,587 shares of company stock worth $47,269,979 over the last quarter.

Institutional Investors Weigh In On Attovia Therapeutics

An institutional investor recently raised its position in Attovia Therapeutics stock. BlackRock Inc. boosted its stake in Attovia Therapeutics, Inc. (NASDAQ:ATTO - Free Report) by 23.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,358 shares of the company's stock after buying an additional 31,189 shares during the period. BlackRock Inc.'s holdings in Attovia Therapeutics were worth $317,000 at the end of the most recent quarter.

About Attovia Therapeutics

Attovia Therapeutics, Inc NASDAQ: ATTO is a clinical-stage biopharmaceutical company developing antibody-based medicines for inflammatory and immune-mediated diseases. The company's research is focused on creating differentiated biologic therapies intended to address significant unmet medical needs.

Attovia uses proprietary antibody-engineering technologies to discover and develop therapeutic candidates, including multispecific antibodies designed to modulate disease-related biological pathways.

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