Shares of the Atossa Therapeutics, Inc. (ATOS) stock were declining in the pre-market trading session today on July 20, 2021, after dropping as much as 13.33% at the previous closing. The ATOS stock price saw a drop of 0.51% to reach $3.88 a share and the trading volume was 24,759,902 as of this writing. Let’s understand why ATOS stock is bearish today.
Atossa Therapeutics, Inc. is a clinical-stage biopharmaceutical company that is engaged in the discovery and development of medicines for oncology and infectious diseases. There seems to be no news related to Atossa Therapeutics in today’s date to justify the bearish sentiment. No press release or announcement has been made to support the declining per share price of the ATOS stock. For now,it is better to look at some recent events of ATOS stock.
Atossa fight against Covid-19:
Though many western countries have made significant progress in vaccinating their population, still Covid-19 is the major health concern due to its evolving variants that are more deadly. Atossa is developing AT-H201 in order to treat patients suffering from moderate covid-19. Attosa is now planning to treat a group of 60 mixed patients that are either recovered or moderately ill hospitalized covid-19 patients in a phase ½a placebo-controlled study by utilizing the combination of blood thinner Heparin and the anti-inflammatory N-acetylcysteine, with AT-H201.
The Analyst Opinion:
Maxim analyst Jason McCarthy considered the combination of N-acetylcysteine and Heparin as “intriguing”. McCarthy thinks that the AT-H201 is the only reason that makes ATOS stock more attractive as far as investment in stocks is concerned. He rated the ATOS stock “buy” and set a $7 target price. The ATOS stock is weighed by only two analysts, and both rated the stock “ buy”.
Performance in June:
ATOS stock had made significant progress in June 2021 as it became part of Russell 2000 and Russell 3000 indexes. Moreover, the Swedish Medical Product Agency (MPA) approved the commencement of Endoxifen’s second phase clinical trial study. Endoxifen is used to treat the mammographic breast density (MBD) that is affecting 10 million women in the U.S alone.
The ATOS stock is declining in the stock market without any obvious reason. Such rises and falls don’t affect the long-term investors who mainly focus on stock’s overall growth and developments.