Short Interest in Attovia Therapeutics, Inc. (NASDAQ:ATTO) Rises By ∞

Attovia Therapeutics, Inc. (NASDAQ:ATTO) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 511,865 shares, a growth of ∞ from the July 30th total of 0 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 732,925 shares, the days-to-cover ratio is presently 0.7 days.

Attovia Therapeutics News Roundup

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 Stock Up 3.4%

Shares of ATTO opened at $21.40 on Tuesday. Attovia Therapeutics has a 12-month low of $16.15 and a 12-month high of $24.32.

Insiders Place Their Bets

In other Attovia Therapeutics news, major shareholder Life Sciences Xi L.P. Frazier bought 588,235 shares of the stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the acquisition, the insider directly owned 6,154,213 shares of the company’s stock, valued at $104,621,621. The trade was a 10.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Global Strategic Fund I. Venbio bought 382,352 shares of the company’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 transaction, the insider owned 4,181,367 shares of the company’s stock, valued at approximately $71,083,239. This represents a 10.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,740,587 shares of company stock worth $47,269,979 in the last three months.

Hedge Funds Weigh In On Attovia Therapeutics

A hedge fund recently raised its position in Attovia Therapeutics stock. BlackRock Inc. grew its stake in shares of Attovia Therapeutics, Inc. (NASDAQ:ATTO) by 23.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATTO. Morgan Stanley started coverage on shares of Attovia Therapeutics in a report on Monday. They issued an “overweight” rating and a $39.00 price target on the stock. Royal Bank Of Canada initiated coverage on shares of Attovia Therapeutics in a research note on Monday. They set an “outperform” rating and a $45.00 price objective for the company. Leerink Partners began coverage on shares of Attovia Therapeutics in a report on Monday. They set an “outperform” rating and a $52.00 target price on the stock. Lifesci Capital began coverage on shares of Attovia Therapeutics in a research note on Monday. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Citigroup started coverage on shares of Attovia Therapeutics in a report on Monday. They issued a “buy” rating and a $30.00 price target for the company. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $42.20.

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.