Attovia Therapeutics, Inc. (NASDAQ:ATTO) Sees Large Growth in Short Interest

Attovia Therapeutics, Inc. (NASDAQ:ATTO) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,649,612 shares, a growth of 98.5% from the September 15th total of 831,090 shares. Based on an average daily trading volume, of 553,841 shares, the days-to-cover ratio is currently 3.0 days. Currently, 3.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

ATTO has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Attovia Therapeutics to a “sell” rating in a research note on Saturday, September 19th. Morgan Stanley assumed coverage on Attovia Therapeutics in a report on Monday, August 31st. They set an “overweight” rating and a $39.00 price objective on the stock. Lifesci Capital assumed coverage on shares of Attovia Therapeutics in a report on Monday, August 31st. They issued an “outperform” rating and a $45.00 price target on the stock. Citigroup began coverage on Attovia Therapeutics in a research report on Monday, August 31st. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Leerink Partners assumed coverage on shares of Attovia Therapeutics in a report on Monday, August 31st. They issued an “outperform” rating and a $52.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

Attovia Therapeutics Trading Down 8.3%

Shares of NASDAQ ATTO traded down $1.22 during mid-day trading on Friday, reaching $13.56. The company had a trading volume of 40,255 shares, compared to its average volume of 353,317. The stock has a 50 day simple moving average of $20.07. The stock has a market cap of $618.92 million and a PE ratio of -2.79. Attovia Therapeutics has a 52-week low of $13.66 and a 52-week high of $28.00.

Attovia Therapeutics (NASDAQ:ATTO) last issued its earnings results on Wednesday, September 2nd. The company reported ($4.88) earnings per share for the quarter. The firm had revenue of $0.45 million for the quarter. Research 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, Director Colin Walsh acquired 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought 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 in the company, valued at approximately $51,350,744. The trade was a 19.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Global Strategic Fund I. Venbio bought 382,352 shares of the firm’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 transaction, the insider owned 4,181,367 shares in the company, valued at $71,083,239. The trade was a 10.06% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,740,587 shares of company stock valued at $47,269,979 over the last ninety days. Insiders own 0.99% of the company’s stock.

Attovia Therapeutics Company Profile

Attovia Therapeutics, Inc is a clinical-stage biotechnology company developing antibody-based medicines for immune-mediated and inflammatory diseases. The company uses proprietary antibody-engineering technologies to design therapies intended to modulate biological pathways involved in chronic inflammation.

Attovia’s development pipeline includes ATTO-1310, an investigational antibody therapy being advanced for atopic dermatitis and potentially other inflammatory conditions. The company’s broader research efforts focus on developing treatments that may offer targeted activity and durable effects for patients with immune-related diseases.

Attovia Therapeutics is advancing its programs through preclinical and clinical development and has not yet established a commercial product portfolio.