Attovia Therapeutics (NASDAQ:ATTO) Raised to “Moderate Buy” at Royal Bank Of Canada

Attovia Therapeutics (NASDAQ:ATTO) was upgraded by Royal Bank Of Canada to a “moderate buy” rating in a research note issued on Sunday, Zacks reports.

A number of other research analysts have also weighed in on the company. Lifesci Capital began coverage on Attovia Therapeutics in a report on Monday. They issued an “outperform” rating and a $45.00 price objective on the stock. Leerink Partners assumed coverage on shares of Attovia Therapeutics in a research report on Monday. They issued an “outperform” rating and a $52.00 target price for the company. Morgan Stanley started coverage on shares of Attovia Therapeutics in a research note on Monday. They issued an “overweight” rating and a $39.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Attovia Therapeutics in a research report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.20.

Attovia Therapeutics Stock Up 3.4%

Shares of NASDAQ:ATTO opened at $21.40 on Friday. Attovia Therapeutics has a 1 year low of $16.15 and a 1 year high of $24.32.

Insider Activity

In related news, major shareholder Global Strategic Fund I. Venbio bought 382,352 shares of the business’s stock in a transaction 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 purchase, the insider directly owned 4,181,367 shares of the company’s stock, valued at $71,083,239. The trade was a 10.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Life Sciences Xi L.P. Frazier purchased 588,235 shares of Attovia Therapeutics stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the acquisition, the insider owned 6,154,213 shares in the company, 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. Insiders have bought a total of 2,740,587 shares of company stock valued at $47,269,979 in the last 90 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Attovia Therapeutics stock. BlackRock Inc. lifted its position in Attovia Therapeutics, Inc. (NASDAQ:ATTO) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,358 shares of the company’s stock after purchasing an additional 31,189 shares during the quarter. BlackRock Inc.’s holdings in Attovia Therapeutics were worth $317,000 at the end of the most recent reporting period.

Key Headlines Impacting Attovia Therapeutics

Here are the key news stories impacting Attovia Therapeutics this week:

• Positive Sentiment: Broad analyst support: Lifesci Capital initiated coverage with an “outperform” rating and a $45 price target, implying substantial upside from recent trading levels. Benzinga analyst coverage report
• Positive Sentiment: Leerink sets highest target: Leerink Partners began coverage with an “outperform” rating and a $52 target, signaling strong confidence in Attovia’s long-term potential. Benzinga analyst coverage report
• Positive Sentiment: Additional bullish initiations: Citigroup rated the stock “buy” with a $30 target, Royal Bank of Canada rated it “outperform” with a $45 target, and Morgan Stanley initiated an “overweight” rating with a $39 target. The broad agreement among new analysts provides a favorable near-term sentiment catalyst. Benzinga analyst coverage report
• Positive Sentiment: Immunology opportunity highlighted: RBC said Attovia could become a key player in immunology and inflammation, supporting the investment case for the company’s clinical pipeline and market opportunity. Attovia Therapeutics Could Serve as Key Player in Immunology, Inflammation, RBC Says

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.