Stock analysts at Morgan Stanley began coverage on shares of Attovia Therapeutics (NASDAQ:ATTO - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The brokerage set an "overweight" rating and a $39.00 price target on the stock. Morgan Stanley's price target indicates a potential upside of 88.41% from the stock's previous close.

Attovia Therapeutics Price Performance

Shares of NASDAQ ATTO opened at $20.70 on Monday. Attovia Therapeutics has a one year low of $16.15 and a one year high of $24.32.

Insiders Place Their Bets

In other news, major shareholder Life Sciences Xi L.P. Frazier acquired 588,235 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, the insider owned 6,154,213 shares of the company's stock, valued at approximately $104,621,621. This represents a 10.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Redmile Group, Llc acquired 200,000 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $3,400,000.00. Following the transaction, the insider owned 982,854 shares of the company's stock, valued at approximately $16,708,518. This represents a 25.55% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,740,587 shares of company stock worth $47,269,979 in the last quarter.

Institutional Investors Weigh In On Attovia Therapeutics

An institutional investor recently raised its position in Attovia Therapeutics stock. BlackRock Inc. boosted its holdings in shares of Attovia Therapeutics, Inc. (NASDAQ:ATTO - Free Report) by 23.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

About Attovia Therapeutics

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Attovia Therapeutics
• These 5 ETFs Have Raked in Cash This Year—What Do They All Have in Common?
• DLocal Is Testing the Breakout Level That Could Change Its Stock Story
• Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally
• Rubrik’s AI Security Bet Could Power the Next Leg Higher

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Attovia Therapeutics Right Now?

Before you consider Attovia Therapeutics, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Attovia Therapeutics wasn't on the list.

While Attovia Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here