Royal Bank Of Canada Upgrades Attovia Therapeutics (NASDAQ:ATTO) to Moderate Buy

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

A number of other equities research analysts have also weighed in on ATTO. Lifesci Capital assumed coverage on Attovia Therapeutics in a research report on Monday. They set an “outperform” rating and a $45.00 price objective on the stock. Morgan Stanley began coverage on Attovia Therapeutics in a research note on Monday. They set an “overweight” rating and a $39.00 price target on the stock. Leerink Partners assumed coverage on Attovia Therapeutics in a report on Monday. They set an “outperform” rating and a $52.00 price target on the stock. Finally, Citigroup assumed coverage on Attovia Therapeutics in a research note on Monday. They issued a “buy” rating and a $30.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock 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 $21.40 on Friday. Attovia Therapeutics has a 52-week low of $16.15 and a 52-week high of $24.32.

Insider Buying and Selling

In related news, major shareholder Life Sciences Xi L.P. Frazier acquired 588,235 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was 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 directly 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc bought 500,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $17.00 per share, with a total value of $8,500,000.00. Following the completion of the transaction, the insider owned 3,020,632 shares in the company, valued at $51,350,744. The trade was a 19.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,740,587 shares of company stock valued at $47,269,979 over the last quarter.

Hedge Funds Weigh In On Attovia Therapeutics

A hedge fund recently raised its position in Attovia Therapeutics stock. BlackRock Inc. lifted its stake in shares of Attovia Therapeutics, Inc. (NASDAQ:ATTO) by 23.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,358 shares of the company’s stock after buying an additional 31,189 shares during the quarter. BlackRock Inc.’s holdings in Attovia Therapeutics were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

More Attovia Therapeutics News

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

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.