Atossa Therapeutics (NASDAQ:ATOS) Stock Slips Over 50% From The Peak: A Good Buy?
The COVID 19 pandemic might be abating but companies are still working on treatments for it and one of the companies that has garnered considerable attention from investors due to its work on a COVID 19 treatment is Atossa Therapeutics (NASDAQ:ATOS).
There are two things to consider with regards to the Atossa stock. First of all, the stock might come into the attention of retail investors from Reddit and go on to record strong gains in the short term. Those investors are known to target stocks which are cheap.
However, at the same time, the Atossa stock could also prove to be attractive for investors who are interested in long term investing. In addition to breast cancer, the other condition with which Atossa is involved is COVID 19. The company is now working on its COVID 19 treatment named AT H201.
The product is unique since it focussed on people who might be underserved and have already contracted the disease. More importantly, the company has also been granted the much needed approval by the Human Research Ethics Committee in Australia for starting a clinical study into the product. Hence, it is easy to see why investors might be interested in the stock as a long term play.
Market Reaction:
On Friday, ATOS stock slumped 20% at $4.50 with more than 44.79 million shares, compared to its average volume of 20.80 million shares. The stock has moved within a range of $4.3210 – 5.8200 after opening the trade at $5.68. Over the past 52-week, the stock has been trading within a range of $0.8100 – 9.8000.
