Attovia Therapeutics, Inc. (NASDAQ:ATTO) Stock Has Consensus Price Target of $42.20 According to Brokerages

Key Points

• Analysts are moderately bullish: Five of six analysts rate Attovia Therapeutics a “buy,” while one recommends holding the stock. The consensus 12-month price target is $42.20, above its reported $17.17 opening price.
• Insiders have been buying shares: Over the past three months, insiders purchased 2.74 million shares worth approximately $47.3 million, including major purchases by a director and Global Strategic Fund I. VenBio.
• Attovia remains an early-stage biotech: The company reported a quarterly loss of $4.88 per share on $0.45 million in revenue and is developing antibody-based treatments, including ATTO-1310, without a commercial product portfolio yet.

Shares of Attovia Therapeutics, Inc. (NASDAQ:ATTO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $42.20.

ATTO has been the topic of a number of analyst reports. Lifesci Capital initiated coverage on shares of Attovia Therapeutics in a research note on Monday, August 31st. They set an "outperform" rating and a $45.00 price objective on the stock. Citigroup began coverage on shares of Attovia Therapeutics in a research note on Monday, August 31st. They issued a "buy" rating and a $30.00 target price for the company. Royal Bank Of Canada began coverage on shares of Attovia Therapeutics in a report on Monday, August 31st. They set an "outperform" rating and a $45.00 price target on the stock. Leerink Partners began coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They set an "outperform" rating and a $52.00 price target on the stock. Finally, Zacks Research raised shares of Attovia Therapeutics to a "hold" rating in a report on Friday, September 4th.

Insider Activity

In other Attovia Therapeutics news, Director Colin Walsh purchased 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, for a total transaction of $8,500,000.00. Following the purchase, the director directly owned 3,020,632 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Strategic Fund I. Venbio purchased 382,352 shares of Attovia Therapeutics stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $17.00 per share, with a total value of $6,499,984.00. Following the acquisition, the insider directly owned 4,181,367 shares in the company, valued at $71,083,239. This trade represents a 10.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 2,740,587 shares of company stock worth $47,269,979. 0.99% of the stock is currently owned by corporate insiders.

Attovia Therapeutics Stock Down 3.5%

Shares of ATTO stock opened at $17.17 on Friday. Attovia Therapeutics has a 52-week low of $16.15 and a 52-week high of $28.00. The company has a 50-day moving average of $20.99.

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

About Attovia Therapeutics

Attovia Therapeutics, Inc is a clinical-stage biotechnology company developing antibody-based medicines for immune-mediated and inflammatory diseases. The company uses proprietary antibody-engineering technologies to design therapies intended to modulate biological pathways involved in chronic inflammation.

Attovia's development pipeline includes ATTO-1310, an investigational antibody therapy being advanced for atopic dermatitis and potentially other inflammatory conditions. The company's broader research efforts focus on developing treatments that may offer targeted activity and durable effects for patients with immune-related diseases.

Attovia Therapeutics is advancing its programs through preclinical and clinical development and has not yet established a commercial product portfolio.

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.