Attovia Therapeutics, Inc.’s (NASDAQ:ATTO) Quiet Period Will Expire on September 14th

Attovia Therapeutics’ (NASDAQ:ATTO) quiet period is set to end on Monday, September 14th. Attovia Therapeutics had issued 17,000,000 shares in its IPO on August 5th. The total size of the offering was $289,000,000 based on an initial share price of $17.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ATTO. Royal Bank Of Canada assumed 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. Citigroup began coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They set a “buy” rating and a $30.00 price objective for the company. Leerink Partners assumed coverage on Attovia Therapeutics in a report on Monday, August 31st. They issued an “outperform” rating and a $52.00 target price on the stock. Morgan Stanley started coverage on Attovia Therapeutics in a report on Monday, August 31st. They set an “overweight” rating and a $39.00 price target for the company. Finally, Lifesci Capital assumed 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, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $42.20.

Attovia Therapeutics Stock Performance

Shares of NASDAQ:ATTO opened at $23.66 on Wednesday. Attovia Therapeutics has a twelve month low of $16.15 and a twelve month high of $28.00.

Attovia Therapeutics (NASDAQ:ATTO) last posted 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. As a group, sell-side analysts expect that Attovia Therapeutics will post -4.06 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Global Strategic Fund I. Venbio acquired 382,352 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $17.00 per share, with a total value of $6,499,984.00. Following the completion of the acquisition, the insider owned 4,181,367 shares in the company, valued at $71,083,239. This trade represents a 10.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Goldman Sachs Group Inc bought 500,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $8,500,000.00. Following the transaction, the insider directly 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. Insiders have acquired a total of 2,740,587 shares of company stock valued at $47,269,979 over the last ninety days.

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.