Orbimed Advisors LLC lessened its stake in Avalo Therapeutics, Inc. (NASDAQ:AVTX – Free Report) by 60.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,165 shares of the company’s stock after selling 712,135 shares during the quarter. Orbimed Advisors LLC’s holdings in Avalo Therapeutics were worth $7,094,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in AVTX. Affinity Asset Advisors LLC boosted its holdings in Avalo Therapeutics by 27.6% during the first quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company’s stock worth $20,019,000 after buying an additional 289,786 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Avalo Therapeutics by 556.4% in the 1st quarter. Renaissance Technologies LLC now owns 120,114 shares of the company’s stock valued at $1,793,000 after acquiring an additional 101,814 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Avalo Therapeutics in the 1st quarter valued at approximately $849,000. Dimensional Fund Advisors LP acquired a new stake in shares of Avalo Therapeutics in the 1st quarter valued at approximately $607,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Avalo Therapeutics in the 1st quarter valued at approximately $174,000. Institutional investors and hedge funds own 87.06% of the company’s stock.
Avalo Therapeutics Stock Performance
AVTX stock opened at $18.44 on Monday. The stock has a 50-day moving average price of $16.74 and a two-hundred day moving average price of $16.12. The stock has a market cap of $975.48 million, a PE ratio of -3.38 and a beta of 0.78. Avalo Therapeutics, Inc. has a 1 year low of $6.21 and a 1 year high of $24.27.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on AVTX. Cantor Fitzgerald restated an “overweight” rating on shares of Avalo Therapeutics in a report on Friday. Wall Street Zen upgraded shares of Avalo Therapeutics from a “strong sell” rating to a “hold” rating in a report on Sunday, March 29th. Citizens Jmp reduced their price target on shares of Avalo Therapeutics from $62.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 14th. Bank of America started coverage on shares of Avalo Therapeutics in a report on Friday, June 12th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Leerink Partners assumed coverage on shares of Avalo Therapeutics in a research report on Monday, July 6th. They issued an “outperform” rating and a $38.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Avalo Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $45.80.
Check Out Our Latest Analysis on Avalo Therapeutics
Insider Transactions at Avalo Therapeutics
In other news, insider Mittie Doyle sold 1,450 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $18.00, for a total transaction of $26,100.00. Following the completion of the transaction, the insider directly owned 51,776 shares in the company, valued at $931,968. This represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Avalo Therapeutics stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $20.17, for a total value of $1,514,020.71. Following the completion of the sale, the insider directly owned 3,634 shares in the company, valued at approximately $73,297.78. This represents a 95.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 93,428 shares of company stock worth $1,762,722 in the last three months. Insiders own 4.46% of the company’s stock.
Avalo Therapeutics 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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