Attovia Therapeutics (NASDAQ:ATTO) Earns Outperform Rating from Analysts at Royal Bank Of Canada

Investment analysts at Royal Bank Of Canada began coverage on shares of Attovia Therapeutics (NASDAQ:ATTO) in a research note issued to investors on Monday. The brokerage set an “outperform” rating and a $45.00 price target on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 117.39% from the company’s current price.

Other analysts have also recently issued reports about the stock. Leerink Partners began coverage on shares of Attovia Therapeutics in a research note on Monday. They issued an “outperform” rating and a $52.00 target price for the company. Citigroup started coverage on Attovia Therapeutics in a research note on Monday. They set a “buy” rating and a $30.00 price target on the stock. Finally, Morgan Stanley started coverage on Attovia Therapeutics in a research report on Monday. They issued an “overweight” rating and a $39.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $41.50.

Attovia Therapeutics Price Performance

Shares of ATTO stock opened at $20.70 on Monday. Attovia Therapeutics has a 12-month low of $16.15 and a 12-month high of $24.32.

Insider Activity at Attovia Therapeutics

In related news, Director Colin Walsh acquired 500,000 shares of the stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $8,500,000.00. Following the transaction, the director owned 3,020,632 shares in the company, valued at approximately $51,350,744. This trade represents a 19.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Strategic Fund I. Venbio purchased 382,352 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the insider directly owned 4,181,367 shares of the company’s stock, valued at $71,083,239. This represents a 10.06% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 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 position in Attovia Therapeutics stock. BlackRock Inc. grew its position in Attovia Therapeutics, Inc. (NASDAQ:ATTO) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,358 shares of the company’s stock after acquiring an additional 31,189 shares during the quarter. BlackRock Inc.’s holdings in Attovia Therapeutics were worth $317,000 as of its most recent SEC filing.

About Attovia Therapeutics

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.