Attovia Therapeutics, Inc. (NASDAQ:ATTO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Attovia Therapeutics, Inc. (NASDAQ:ATTO) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.20.

ATTO has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They issued an “overweight” rating and a $39.00 price target on the stock. Zacks Research raised shares of Attovia Therapeutics to a “hold” rating in a research report on Friday, September 4th. Lifesci Capital 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. Wall Street Zen raised Attovia Therapeutics to a “sell” rating in a report on Saturday, September 19th. Finally, Leerink Partners initiated coverage on Attovia Therapeutics in a research report on Monday, August 31st. They set an “outperform” rating and a $52.00 target price on the stock.

Insiders Place Their Bets

In other news, major shareholder Global Strategic Fund I. Venbio acquired 382,352 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $6,499,984.00. Following the transaction, the insider directly owned 4,181,367 shares of the company’s stock, valued at approximately $71,083,239. This trade represents a 10.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Life Sciences Xi L.P. Frazier purchased 588,235 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, 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. Over the last quarter, insiders purchased 2,740,587 shares of company stock valued at $47,269,979. Insiders own 0.99% of the company’s stock.

Attovia Therapeutics Stock Down 0.7%

Shares of ATTO stock opened at $16.31 on Friday. Attovia Therapeutics has a 12-month low of $15.48 and a 12-month high of $28.00. The stock has a market capitalization of $744.57 million and a PE ratio of -3.34. The stock has a 50 day moving average of $20.65.

Attovia Therapeutics (NASDAQ:ATTO) last released its quarterly earnings results on Wednesday, September 2nd. The company reported ($4.88) earnings per share (EPS) for the quarter. The firm had revenue of $0.45 million during the quarter. On average, analysts predict that Attovia Therapeutics will post -4.06 EPS for the current 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.