Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Up 512.3% in September

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,240,000 shares, a growth of 512.3% from the September 15th total of 202,500 shares. Approximately 11.7% of the company’s shares are short sold. Based on an average daily trading volume, of 318,400 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily trading volume, of 318,400 shares, the days-to-cover ratio is presently 3.9 days. Approximately 11.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

AVTX has been the topic of several recent research reports. HC Wainwright lifted their target price on Avalo Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Cowen initiated coverage on Avalo Therapeutics in a report on Friday, September 5th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avalo Therapeutics in a report on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $40.00 target price on shares of Avalo Therapeutics in a report on Monday, September 29th. Finally, Cantor Fitzgerald initiated coverage on Avalo Therapeutics in a report on Friday, August 15th. They set an “overweight” rating on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Avalo Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $31.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd bought a new position in shares of Avalo Therapeutics in the 2nd quarter worth about $55,000. Boothbay Fund Management LLC bought a new position in shares of Avalo Therapeutics in the 2nd quarter worth about $56,000. ADAR1 Capital Management LLC bought a new position in shares of Avalo Therapeutics in the 1st quarter worth about $80,000. Geode Capital Management LLC raised its position in shares of Avalo Therapeutics by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock worth $552,000 after acquiring an additional 2,648 shares in the last quarter. Finally, Velan Capital Investment Management LP increased its position in Avalo Therapeutics by 38.4% in the 2nd quarter. Velan Capital Investment Management LP now owns 154,972 shares of the company’s stock valued at $773,000 after buying an additional 43,000 shares in the last quarter. 87.06% of the stock is owned by institutional investors.

Avalo Therapeutics Price Performance

AVTX stock opened at $14.00 on Friday. The stock has a 50-day moving average price of $11.15 and a 200-day moving average price of $7.20. Avalo Therapeutics has a 1-year low of $3.39 and a 1-year high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.49). As a group, equities research analysts forecast that Avalo Therapeutics will post -19.07 earnings per share for the current year.

About Avalo Therapeutics

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.