Attovia Therapeutics (NASDAQ:ATTO) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Attovia Therapeutics to a “sell” rating, contrasting with a broader analyst consensus of “Moderate Buy” and an average price target of $42.20.
• ATTO shares opened at $22.14, down 2.6%, with a 52-week range of $16.15 to $28.00. The company reported a quarterly loss of $4.88 per share on $0.45 million in revenue.
• Insiders demonstrated increased confidence by purchasing 2.74 million shares worth approximately $47.3 million during the last quarter, including significant buys by Goldman Sachs and Redmile Group.

Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the company. Lifesci Capital began coverage on Attovia Therapeutics in a research note on Monday, August 31st. They issued an "outperform" rating and a $45.00 price objective for the company. Leerink Partners started coverage on Attovia Therapeutics in a research report on Monday, August 31st. They set an "outperform" rating and a $52.00 target price on the stock. Zacks Research raised Attovia Therapeutics to a "hold" rating in a report on Friday, September 4th. Royal Bank Of Canada initiated coverage on Attovia Therapeutics in a research report on Monday, August 31st. They issued an "outperform" rating and a $45.00 price target for the company. Finally, Citigroup started coverage on Attovia Therapeutics in a research note on Monday, August 31st. They set a "buy" rating and a $30.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Attovia Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.20.

Attovia Therapeutics Stock Down 2.6%

Shares of ATTO opened at $22.14 on Friday. Attovia Therapeutics has a 52-week low of $16.15 and a 52-week high of $28.00.

Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($4.88) EPS for the quarter. The company had revenue of $0.45 million for the quarter. As a group, equities analysts predict that Attovia Therapeutics will post -4.06 EPS for the current year.

Insider Activity

In other news, major shareholder Goldman Sachs Group Inc bought 500,000 shares of the business's 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 $8,500,000.00. Following the purchase, the insider owned 3,020,632 shares of the company's stock, valued at $51,350,744. This trade represents a 19.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Redmile Group, Llc bought 200,000 shares of Attovia Therapeutics stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $3,400,000.00. Following the completion of the acquisition, the insider owned 982,854 shares in the company, valued at $16,708,518. This represents a 25.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,740,587 shares of company stock worth $47,269,979 in the last quarter. Corporate insiders own 0.99% of the company's stock.

About Attovia Therapeutics

Attovia Therapeutics, Inc NASDAQ: ATTO is a clinical-stage biotechnology company focused on developing antibody-based medicines for immune-mediated and inflammatory diseases. Its research programs are designed to address conditions in which dysregulated immune signaling contributes to disease.

The company's activities include discovering, developing and advancing biologic drug candidates through preclinical and clinical testing. Attovia's pipeline is centered on targeted therapies intended to modulate key pathways involved in inflammation and immune responses, with the goal of treating patients with significant unmet medical needs.

Attovia Therapeutics is headquartered in the United States and operates as a development-stage biopharmaceutical company.

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