Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Free Report) shares dropped 6.9% during trading on Monday . The stock traded as low as $20.12 and last traded at $20.0860. Approximately 1,193,236 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 978,365 shares. The stock had previously closed at $21.57.
Analyst Upgrades and Downgrades
AVTX has been the topic of several analyst reports. Citizens Jmp boosted their price target on shares of Avalo Therapeutics from $52.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. BTIG Research boosted their price target on shares of Avalo Therapeutics from $40.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. HC Wainwright boosted their price target on shares of Avalo Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Citigroup reissued an “outperform” rating on shares of Avalo Therapeutics in a research report on Wednesday, May 6th. Finally, Guggenheim initiated coverage on shares of Avalo Therapeutics in a research report on Monday, February 2nd. They set a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.63.
Get Our Latest Report on Avalo Therapeutics
Avalo Therapeutics Trading Down 6.1%
Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $1.17. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of ($0.21) million. On average, equities research analysts predict that Avalo Therapeutics, Inc. will post -3.1 EPS for the current year.
Insider Activity at Avalo Therapeutics
In related news, CFO Christopher Ryan Sullivan sold 8,458 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $13.09, for a total value of $110,715.22. Following the transaction, the chief financial officer owned 8,880 shares in the company, valued at approximately $116,239.20. This represents a 48.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Varki sold 75,063 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $20.17, for a total transaction of $1,514,020.71. Following the completion of the transaction, the insider owned 3,634 shares in the company, valued at approximately $73,297.78. This trade represents a 95.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 138,078 shares of company stock worth $2,501,346. Insiders own 4.46% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. BIT Capital GmbH acquired a new position in shares of Avalo Therapeutics during the 3rd quarter worth approximately $25,000. PFS Partners LLC grew its position in shares of Avalo Therapeutics by 100.0% during the 4th quarter. PFS Partners LLC now owns 2,000 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Avalo Therapeutics during the 3rd quarter worth approximately $143,000. Boothbay Fund Management LLC acquired a new position in shares of Avalo Therapeutics during the 2nd quarter worth approximately $56,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Avalo Therapeutics during the 1st quarter worth approximately $174,000. Institutional investors and hedge funds own 87.06% of the company’s stock.
Avalo Therapeutics Company Profile
Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.
Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.
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