Attovia Therapeutics, Inc.’s (NASDAQ:ATTO) Quiet Period Will End Tomorrow

Attovia Therapeutics’ (NASDAQ:ATTO) quiet period will end on Monday, September 14th. Attovia Therapeutics had issued 17,000,000 shares in its public offering on August 5th. The total size of the offering was $289,000,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ATTO shares. Lifesci Capital started coverage on Attovia Therapeutics in a research report on Monday, August 31st. They set an “outperform” rating and a $45.00 price target for the company. Citigroup assumed coverage on shares of Attovia Therapeutics in a research report on Monday, August 31st. They issued a “buy” rating and a $30.00 price objective on the stock. Leerink Partners started coverage on shares of Attovia Therapeutics in a research note on Monday, August 31st. They issued an “outperform” rating and a $52.00 target price on the stock. Royal Bank Of Canada initiated 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. Finally, Morgan Stanley began coverage on shares of Attovia Therapeutics in a research note on Monday, August 31st. They issued an “overweight” rating and a $39.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Attovia Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Attovia Therapeutics Trading Up 1.2%

Shares of ATTO stock opened at $22.79 on Friday. Attovia Therapeutics has a 12-month low of $16.15 and a 12-month high of $28.00.

Attovia Therapeutics (NASDAQ:ATTO) last posted its earnings results on Wednesday, September 2nd. The company reported ($4.88) earnings per share for the quarter. The business had revenue of $0.45 million during the quarter. Sell-side analysts forecast that Attovia Therapeutics will post -4.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Attovia Therapeutics news, major shareholder Goldman Sachs Group Inc acquired 500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $17.00 per share, with a total value of $8,500,000.00. Following the completion of the acquisition, the insider owned 3,020,632 shares in the company, valued at $51,350,744. This represents a 19.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Colin Walsh bought 500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average price of $17.00 per share, with a total value of $8,500,000.00. Following the completion of the transaction, the director directly owned 3,020,632 shares of the company’s stock, valued at $51,350,744. This trade represents a 19.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,740,587 shares of company stock valued at $47,269,979 in the last 90 days. 0.99% of the stock is owned by insiders.

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.