Attovia Therapeutics, Inc. (NASDAQ:ATTO) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts rate Attovia Therapeutics a consensus “Moderate Buy”: Five of six analysts recommend buying the stock, with an average 12-month price target of $42.20 versus its $23.66 opening price.
• Recent coverage includes price targets ranging from $30 to $52, with RBC, Leerink Partners, Morgan Stanley, and Lifesci Capital issuing positive ratings.
• Insiders have made substantial purchases, buying 2.74 million shares worth approximately $47.3 million over the past 90 days. The clinical-stage biotech reported a quarterly loss of $4.88 per share and $0.45 million in revenue.

Shares of Attovia Therapeutics, Inc. (NASDAQ:ATTO - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.20.

Several equities research analysts have recently commented on ATTO shares. Royal Bank Of Canada 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. Citigroup initiated coverage on Attovia Therapeutics in a report on Monday, August 31st. They set a "buy" rating and a $30.00 price target for the company. Leerink Partners began coverage on Attovia Therapeutics in a research report on Monday, August 31st. They issued an "outperform" rating and a $52.00 price target for the company. Morgan Stanley assumed coverage on Attovia Therapeutics in a research note on Monday, August 31st. They issued an "overweight" rating and a $39.00 price objective on the stock. Finally, Lifesci Capital began coverage on Attovia Therapeutics in a research report on Monday, August 31st. They set an "outperform" rating and a $45.00 price objective on the stock.

Insider Activity at Attovia Therapeutics

In other news, Director Colin Walsh purchased 500,000 shares of the stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $17.00 per share, with a total value of $8,500,000.00. Following the completion of the acquisition, the director directly owned 3,020,632 shares of the company's stock, valued at $51,350,744. This trade represents a 19.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Life Sciences Xi L.P. Frazier purchased 588,235 shares of the company's stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the transaction, the insider owned 6,154,213 shares of the company's stock, valued at approximately $104,621,621. This trade represents a 10.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 2,740,587 shares of company stock worth $47,269,979 in the last 90 days.

Attovia Therapeutics Stock Performance

NASDAQ ATTO opened at $23.66 on Wednesday. Attovia Therapeutics has a 1-year low of $16.15 and a 1-year high of $28.00.

Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported ($4.88) EPS for the quarter. The business had revenue of $0.45 million for the quarter. As a group, analysts forecast that Attovia Therapeutics will post -4.06 earnings per share for the current fiscal year.

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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