Attovia Therapeutics (NASDAQ:ATTO) Now Covered by Royal Bank Of Canada

Key Points

• Royal Bank of Canada initiated coverage of Attovia Therapeutics with an “outperform” rating and a $45 price target, implying 117.39% potential upside from the stock’s $20.70 opening price.
• Attovia received uniformly positive analyst coverage, with four analysts rating the stock a Buy and an average price target of $41.50; individual targets range from $30 to $52.
• Insiders made substantial purchases, acquiring 2.74 million shares worth approximately $47.3 million over the past 90 days, while BlackRock increased its position by 23.4% in the second quarter.

Research analysts at Royal Bank Of Canada assumed coverage on shares of Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) in a research note issued to investors on Monday. The firm set an "outperform" rating and a $45.00 price target on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 117.39% from the stock's current price.

ATTO has been the subject of a number of other research reports. Leerink Partners began coverage on Attovia Therapeutics in a research note on Monday. They issued an "outperform" rating and a $52.00 price target for the company. Morgan Stanley started coverage on Attovia Therapeutics in a research note on Monday. They set an "overweight" rating and a $39.00 target price on the stock. Finally, Citigroup began coverage on Attovia Therapeutics in a research note on Monday. They issued a "buy" rating and a $30.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $41.50.

Attovia Therapeutics Price Performance

ATTO opened at $20.70 on Monday. Attovia Therapeutics has a 1-year low of $16.15 and a 1-year high of $24.32.

Insider Transactions at Attovia Therapeutics

In other Attovia Therapeutics news, major shareholder Redmile Group, Llc purchased 200,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $17.00 per share, with a total value of $3,400,000.00. Following the acquisition, the insider owned 982,854 shares in the company, valued at approximately $16,708,518. The trade was a 25.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Life Sciences Xi L.P. Frazier acquired 588,235 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the purchase, the insider directly owned 6,154,213 shares in the company, valued at approximately $104,621,621. The trade was a 10.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 2,740,587 shares of company stock worth $47,269,979.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Attovia Therapeutics stock. BlackRock Inc. grew its position in Attovia Therapeutics, Inc. (NASDAQ:ATTO - Free Report) by 23.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,358 shares of the company's stock after buying an additional 31,189 shares during the quarter. BlackRock Inc.'s holdings in Attovia Therapeutics were worth $317,000 at the end of the most recent reporting period.

Attovia Therapeutics Company Profile

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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