Atossa Genetics (NASDAQ:ATOS) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Atossa Genetics shares have crossed above their 200-day moving average, trading at $0.86 with a high of $0.89, indicating potential positive momentum in the stock.
• Analysts have raised their price targets for Atossa Genetics, with Ascendiant Capital Markets setting a target of $7.50 and Craig Hallum suggesting a "strong-buy" rating with a target of $4.00.
• Multiple institutional investors, including Renaissance Technologies and JPMorgan Chase, have significantly increased their stakes in Atossa Genetics, reflecting growing confidence among major investors.

Atossa Genetics Inc. (NASDAQ:ATOS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.81 and traded as high as $0.89. Atossa Genetics shares last traded at $0.86, with a volume of 433,195 shares changing hands.

Wall Street Analysts Forecast Growth

ATOS has been the subject of several analyst reports. Ascendiant Capital Markets raised their price target on Atossa Genetics from $7.25 to $7.50 and gave the company a "buy" rating in a report on Friday, June 6th. Craig Hallum upgraded Atossa Genetics to a "strong-buy" rating and set a $4.00 price target for the company in a report on Thursday, June 5th.

Atossa Genetics Price Performance

The company has a 50 day moving average price of $0.86 and a two-hundred day moving average price of $0.81. The stock has a market cap of $111.33 million, a PE ratio of -4.10 and a beta of 0.90.

Atossa Genetics (NASDAQ:ATOS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, equities analysts predict that Atossa Genetics Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atossa Genetics

Several hedge funds and other institutional investors have recently modified their holdings of ATOS. Renaissance Technologies LLC boosted its stake in shares of Atossa Genetics by 18.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,557,632 shares of the company's stock worth $1,471,000 after acquiring an additional 247,562 shares during the last quarter. Northern Trust Corp boosted its position in shares of Atossa Genetics by 7.5% in the fourth quarter. Northern Trust Corp now owns 1,025,724 shares of the company's stock worth $968,000 after purchasing an additional 71,525 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Atossa Genetics by 40.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 422,582 shares of the company's stock worth $284,000 after purchasing an additional 120,934 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Atossa Genetics by 141.4% in the fourth quarter. JPMorgan Chase & Co. now owns 361,296 shares of the company's stock worth $341,000 after purchasing an additional 211,654 shares during the period. Finally, Virtu Financial LLC boosted its position in shares of Atossa Genetics by 311.1% in the fourth quarter. Virtu Financial LLC now owns 208,196 shares of the company's stock worth $197,000 after purchasing an additional 157,549 shares during the period. 12.74% of the stock is owned by institutional investors.

About Atossa Genetics

Atossa Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops medicines in the areas of unmet medical need in oncology for women breast cancer and other conditions in the United States. The company's lead drug candidate is oral (Z)-endoxifen, an active metabolite of tamoxifen, which is in Phase II clinical trials to treat and prevent breast cancer.

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