Attovia Therapeutics, Inc. (NASDAQ:ATTO) Stock Short Interest Report for September

Key Points

• Short interest nearly doubled in September, rising 98.5% to 1.65 million shares, equal to 3.6% of Attovia’s outstanding stock and a 3.0-day short-interest ratio.
• Insiders made substantial purchases, acquiring 2.74 million shares worth approximately $47.3 million over the past 90 days, including major shareholder purchases at $17 per share.
• Analyst sentiment is largely positive, with five Buy ratings and one Hold, producing a “Moderate Buy” consensus and a $42.20 average price target; however, the stock recently traded at $14.71 and reported a quarterly loss of $4.88 per share.

Attovia Therapeutics, Inc. (NASDAQ:ATTO - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,649,612 shares, a growth of 98.5% from the September 15th total of 831,090 shares. Currently, 3.6% of the company's stock are sold short. Based on an average daily trading volume, of 553,841 shares, the short-interest ratio is currently 3.0 days.

Insider Activity

In related news, major shareholder Life Sciences Xi L.P. Frazier purchased 588,235 shares of the business's stock in a transaction on Thursday, August 6th. The shares were purchased at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the purchase, the insider owned 6,154,213 shares in the company, valued at $104,621,621. This represents a 10.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Strategic Fund I. Venbio purchased 382,352 shares of the business's stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $6,499,984.00. Following the purchase, the insider owned 4,181,367 shares of the company's stock, valued at approximately $71,083,239. This represents a 10.06% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 2,740,587 shares of company stock worth $47,269,979.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank Of Canada began coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They issued an "outperform" rating and a $45.00 price objective on the stock. Leerink Partners initiated coverage on Attovia Therapeutics in a report on Monday, August 31st. They set an "outperform" rating and a $52.00 target price for the company. Wall Street Zen raised Attovia Therapeutics to a "sell" rating in a research note on Saturday, September 19th. Citigroup assumed coverage on Attovia Therapeutics in a report on Monday, August 31st. They issued a "buy" rating and a $30.00 price target on the stock. Finally, Lifesci Capital started coverage on Attovia Therapeutics in a research report on Monday, August 31st. They set an "outperform" rating and a $45.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.20.

Attovia Therapeutics Price Performance

Shares of NASDAQ ATTO traded down $0.01 during midday trading on Wednesday, reaching $14.71. The company's stock had a trading volume of 12,349 shares, compared to its average volume of 346,782. The stock has a 50 day simple moving average of $20.33. The company has a market cap of $671.51 million and a PE ratio of -3.01. Attovia Therapeutics has a fifty-two week low of $14.23 and a fifty-two week 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 company had revenue of $0.45 million for the quarter. On average, research analysts predict that Attovia Therapeutics will post -4.06 EPS 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.