Lifesci Capital Begins Coverage on Attovia Therapeutics (NASDAQ:ATTO)

Key Points

• Lifesci Capital initiated coverage of Attovia Therapeutics with an “outperform” rating and a $45 price target, implying approximately 125% upside from the prior close.
• Analyst sentiment is broadly bullish: five firms rate the stock Buy or equivalent, with a consensus price target of $42.20. Targets range from $30 to $52.
• Insider buying has been substantial, with insiders acquiring 2.74 million shares worth approximately $47.3 million over the past three months; the stock closed Monday at $20.00.

Investment analysts at Lifesci Capital began coverage on shares of Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an "outperform" rating and a $45.00 price target on the stock. Lifesci Capital's price objective would suggest a potential upside of 125.03% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Attovia Therapeutics in a research report on Monday. They set an "outperform" rating and a $45.00 price target on the stock. Leerink Partners started coverage on Attovia Therapeutics in a research note on Monday. They set an "outperform" rating and a $52.00 price objective on the stock. Citigroup initiated coverage on Attovia Therapeutics in a report on Monday. They set a "buy" rating and a $30.00 target price on the stock. Finally, Morgan Stanley started coverage on Attovia Therapeutics in a research note on Monday. They issued an "overweight" rating and a $39.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $42.20.

Attovia Therapeutics Stock Performance

NASDAQ ATTO traded down $0.70 during trading on Monday, reaching $20.00. 43,722 shares of the stock traded hands, compared to its average volume of 268,044. Attovia Therapeutics has a fifty-two week low of $16.15 and a fifty-two week high of $24.32.

Insider Buying and Selling

In related news, major shareholder Life Sciences Xi L.P. Frazier acquired 588,235 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Redmile Group, Llc acquired 400,000 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $6,800,000.00. Following the completion of the transaction, the insider directly owned 1,182,854 shares in the company, valued at $20,108,518. This represents a 51.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 2,740,587 shares of company stock valued at $47,269,979.

Institutional Trading of Attovia Therapeutics

A hedge fund recently raised its position in Attovia Therapeutics stock. BlackRock Inc. lifted its position in shares of Attovia Therapeutics, Inc. (NASDAQ:ATTO - Free Report) by 23.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source