Attovia Therapeutics (NASDAQ:ATTO) Trading 7.5% Higher Following Insider Buying Activity

Key Points

• Attovia Therapeutics shares rose 7.5% to $21.34 in midday trading after reported insider and major-shareholder purchases, although trading volume was 67% below the average session volume.
• Director Colin Walsh bought 85,000 shares for $1.785 million, while Goldman Sachs acquired 500,000 shares for $8.5 million, increasing its position by 19.84% to 3.02 million shares.
• BlackRock increased its Attovia stake by 23.4% in the second quarter to 164,358 shares. Attovia is a clinical-stage biopharmaceutical company developing antibody-based treatments for inflammatory and immune-mediated diseases.

Attovia Therapeutics, Inc. (NASDAQ:ATTO - Get Free Report)'s stock price was up 7.5% during mid-day trading on Monday following insider buying activity. The company traded as high as $21.50 and last traded at $21.34. Approximately 111,850 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 339,314 shares. The stock had previously closed at $19.86.

Specifically, Director Colin Walsh bought 85,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was bought at an average cost of $21.00 per share, for a total transaction of $1,785,000.00. Following the completion of the purchase, the director directly owned 85,000 shares in the company, valued at approximately $1,785,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Goldman Sachs Group Inc purchased 500,000 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, for a total transaction of $8,500,000.00. Following the completion of the transaction, the insider owned 3,020,632 shares of the company's stock, valued at approximately $51,350,744. This represents a 19.84% increase in their position. The disclosure for this purchase is available in the SEC filing. In other Attovia Therapeutics news, major shareholder Goldman Sachs Group Inc acquired 85,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was purchased at an average price of $21.00 per share, for a total transaction of $1,785,000.00. Following the acquisition, the insider owned 85,000 shares in the company, valued at approximately $1,785,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Attovia Therapeutics Trading Up 8.1%

Hedge Funds Weigh In On Attovia Therapeutics

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

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.

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