Attovia Therapeutics (NASDAQ:ATTO) Releases Earnings Results

Key Points

• Attovia Therapeutics reported a quarterly loss of $4.88 per share.
• Shares rose $0.91 to $23.13 in mid-day trading, with the stock ranging between $16.15 and $24.32 over the past year.
• Analysts maintain a consensus “Buy” rating with an average price target of $42.20, while insiders have purchased 2.74 million shares worth approximately $47.3 million over the past three months.

Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) posted its earnings results on Wednesday. The company reported ($4.88) earnings per share for the quarter, Zacks reports.

Attovia Therapeutics Stock Performance

Shares of NASDAQ ATTO traded up $0.91 during mid-day trading on Wednesday, reaching $23.13. The company had a trading volume of 81,161 shares, compared to its average volume of 262,593. Attovia Therapeutics has a one year low of $16.15 and a one year high of $24.32.

Analyst Ratings Changes

A number of equities analysts recently commented on ATTO shares. Leerink Partners assumed coverage on shares of Attovia Therapeutics in a research report on Monday. They set an "outperform" rating and a $52.00 price target on the stock. Citigroup started coverage on shares of Attovia Therapeutics in a research report on Monday. They set a "buy" rating and a $30.00 target price on the stock. Lifesci Capital started coverage on shares of Attovia Therapeutics in a report on Monday. They set an "outperform" rating and a $45.00 target price on the stock. Morgan Stanley started coverage on shares of Attovia Therapeutics in a research report on Monday. They issued an "overweight" rating and a $39.00 price target for the company. Finally, Royal Bank Of Canada assumed coverage on Attovia Therapeutics in a research note on Monday. They issued an "outperform" rating and a $45.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Attovia Therapeutics currently has an average rating of "Buy" and a consensus target price of $42.20.

Insider Buying and Selling at Attovia Therapeutics

In other news, major shareholder Redmile Group, Llc bought 200,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $3,400,000.00. Following the transaction, the insider owned 982,854 shares of the company's stock, valued at $16,708,518. This represents a 25.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Colin Walsh purchased 500,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $17.00 per share, with a total value of $8,500,000.00. Following the acquisition, the director owned 3,020,632 shares in the company, valued at $51,350,744. This trade represents a 19.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,740,587 shares of company stock valued at $47,269,979 over the last three months.

Attovia Therapeutics Company Profile

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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