Atossa Therapeutics (ATOS) Stock Sees Huge Jump: Will It Hit $10?
The Atossa Therapeutics (NASDAQ:ATOS) stock has been one of the biggest movers in the market over the course of the past months and the rally continued in the stock on Tuesday.
Yesterday, the stock came into sharp focus among investors and managed to record gains of 51% for the week so far. More importantly, the rally took the gains recorded by the Atossa stock over the course of the past six months to as much as 680%. Considering the magnitude of the gains made by the stock this week, it might be a good idea to take a look at the major factors that were at play.
One of the more important milestones achieved by the company in recent times is that of being included in the Russell 3000 and Russell 2000 indexes. That might have been one of the factors why fund managers might have been acquiring the Atossa stock. However, that is not the only factor at play.
There is another group of investors, including those from the Reddit community, who are attempting to trigger a gamma squeeze in the Atossa stock. These traders have been picking up plenty of short-dated call options in the Atossa stock with the aim of forcing market makers to buy more of these shares.
If that happens then the price of the Atossa stock is going to go higher. While these may be some of the factors behind the latest rally, it should be noted by investors that these factors can only bring about a temporary rise in the stock price.
The long-term fate of the stock is going to be dependent on the company’s business. At this point in time, the company has two products in its pipeline. Not too long ago, Atossa had published the Phase 2 results in relation to its breast cancer medicine Endoxifen.
Atossa Therapeutics (ATOS) Stock Is About To Hit New Highs: How to Trade?
Over the course of the past six weeks, the Atossa Therapeutics (NASDAQ:ATOS) stock has been in the middle of a strong rally and during that period, it managed to deliver gains of as much as 160%.
The Atossa stock kicked off the month of June on a strong note as well and clocked gains of as much as 20% yesterday. There was no announcement from the company yesterday but an analyst actually raised his price target for the Atossa stock and that seems to have come as a major trigger for the rally in the stock. Hence, it might be a good idea now for investors to take a closer look at the stock.
In a new development, analyst Edward Woo raised the target price for the Atossa stock from $7.75 a share to $8 a share. However, it should be noted that the new target price is just more than double the previous closing price of the stock. On the other hand, Woo maintained the buy rating on the stock.
One of the biggest reasons behind the bullish sentiments about the Atossa stocks is its oral breast cancer product named Endoxifen. Breast cancer is a widespread disease and it is believed that Endoxifen could eventually add substantially to the company’s revenues.
Back in February, Atossa also conducted a phase 2 clinical study of the product in Australia and announced that the results were ‘overwhelmingly positive’. The comment was in relation to the effectiveness of the product in reducing the activity of tumour cells.
In addition to that, the company has also managed to come up with two medications that are meant to treat patients suffering from COVID 19. In this regard it is also important to note that Woo has been bullish about the stock for quite some time and had given a buy rating to Atossa in September last year.