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

Attovia Therapeutics’ (NASDAQ:ATTO) quiet period will 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 Attovia Therapeutics’ 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 expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

ATTO has been the topic of several research reports. Zacks Research raised Attovia Therapeutics to a “hold” rating in a research report on Friday, September 4th. Leerink Partners began coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They set an “outperform” rating and a $52.00 price target for the company. Citigroup started coverage on shares of Attovia Therapeutics in a research note on Monday, August 31st. They issued a “buy” rating and a $30.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Attovia Therapeutics in a report on Monday, August 31st. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, Lifesci Capital began coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They set an “outperform” rating and a $45.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.20.

Attovia Therapeutics Stock Down 1.4%

Shares of Attovia Therapeutics stock opened at $22.53 on Friday. Attovia Therapeutics has a one year low of $16.15 and a one year high of $28.00.

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 business had revenue of $0.45 million during the quarter. On average, equities analysts predict that Attovia Therapeutics will post -4.06 earnings per share for the current fiscal year.

Insider Activity at Attovia Therapeutics

In other news, major shareholder Global Strategic Fund I. Venbio bought 382,352 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $17.00 per share, for a total transaction of $6,499,984.00. Following the purchase, the insider owned 4,181,367 shares in the company, valued at approximately $71,083,239. The trade was a 10.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Colin Walsh purchased 500,000 shares of the stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $8,500,000.00. Following the acquisition, the director 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,740,587 shares of company stock worth $47,269,979 in the last quarter. 0.99% of the stock is currently owned by insiders.

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.