Attovia Therapeutics (NASDAQ:ATTO) Upgraded by Royal Bank Of Canada to "Moderate Buy" Rating

Key Points

• Analyst sentiment is broadly bullish: Royal Bank of Canada upgraded Attovia Therapeutics to “moderate buy,” while five analysts rate the stock a Buy. The average price target is $42.20 versus a recent opening price of $21.40.
• Multiple firms see significant upside: New coverage included price targets of $30 from Citigroup, $39 from Morgan Stanley, $45 from Lifesci Capital, and $52 from Leerink Partners.
• Insiders are increasing their stakes: Insiders purchased 2.74 million shares worth approximately $47.3 million over the past 90 days, including substantial purchases by director Colin Walsh and Redmile Group.

Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) was upgraded by equities researchers at Royal Bank Of Canada to a "moderate buy" rating in a research report issued on Sunday, Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Lifesci Capital initiated coverage on shares of Attovia Therapeutics in a research note on Monday. They set an "outperform" rating and a $45.00 price objective on the stock. Leerink Partners began coverage on shares of Attovia Therapeutics in a research note on Monday. They issued an "outperform" rating and a $52.00 target price for the company. Morgan Stanley initiated coverage on shares of Attovia Therapeutics in a report on Monday. They set an "overweight" rating and a $39.00 price target on the stock. Finally, Citigroup started coverage on shares of Attovia Therapeutics in a research report on Monday. They set a "buy" rating and a $30.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $42.20.

Attovia Therapeutics Stock Performance

Shares of ATTO stock opened at $21.40 on Friday. Attovia Therapeutics has a twelve month low of $16.15 and a twelve month high of $24.32.

Insider Activity at Attovia Therapeutics

In other Attovia Therapeutics news, Director Colin Walsh acquired 500,000 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $8,500,000.00. Following the completion of the transaction, the director directly owned 3,020,632 shares of the company's stock, valued at $51,350,744. This represents a 19.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Redmile Group, Llc bought 400,000 shares of Attovia Therapeutics stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $17.00 per share, with a total value of $6,800,000.00. Following the completion of the purchase, the insider owned 1,182,854 shares in the company, valued at approximately $20,108,518. This trade represents a 51.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,740,587 shares of company stock valued at $47,269,979 in the last ninety days.

Institutional Investors Weigh In On Attovia Therapeutics

A hedge fund recently raised its stake in Attovia Therapeutics stock. BlackRock Inc. increased its stake in Attovia Therapeutics, Inc. (NASDAQ:ATTO - Free Report) by 23.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 164,358 shares of the company's stock after acquiring 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.

Key Stories Impacting Attovia Therapeutics

Here are the key news stories impacting Attovia Therapeutics this week:

• Positive Sentiment: Broad analyst support: Lifesci Capital initiated coverage with an “outperform” rating and a $45 price target, implying substantial upside from recent trading levels. Benzinga analyst coverage report
• Positive Sentiment: Leerink sets highest target: Leerink Partners began coverage with an “outperform” rating and a $52 target, signaling strong confidence in Attovia’s long-term potential. Benzinga analyst coverage report
• Positive Sentiment: Additional bullish initiations: Citigroup rated the stock “buy” with a $30 target, Royal Bank of Canada rated it “outperform” with a $45 target, and Morgan Stanley initiated an “overweight” rating with a $39 target. The broad agreement among new analysts provides a favorable near-term sentiment catalyst. Benzinga analyst coverage report
• Positive Sentiment: Immunology opportunity highlighted: RBC said Attovia could become a key player in immunology and inflammation, supporting the investment case for the company’s clinical pipeline and market opportunity. Attovia Therapeutics Could Serve as Key Player in Immunology, Inflammation, RBC Says

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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