Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.27), FiscalAI reports.
Avalo Therapeutics Stock Down 0.7%
AVTX traded down $0.14 during trading on Thursday, reaching $18.70. The company had a trading volume of 596,212 shares, compared to its average volume of 1,200,460. The business has a 50 day simple moving average of $17.22 and a 200-day simple moving average of $16.27. The stock has a market cap of $989.29 million, a P/E ratio of -3.42 and a beta of 0.80. Avalo Therapeutics has a 52 week low of $8.01 and a 52 week high of $24.27.
Analyst Upgrades and Downgrades
AVTX has been the topic of several analyst reports. Citizens Jmp lowered their target price on 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. Citigroup restated an “outperform” rating on shares of Avalo Therapeutics in a research note on Wednesday, May 6th. Bank of America began coverage on shares of Avalo Therapeutics in a research note on Friday, June 12th. They issued a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Avalo Therapeutics in a report on Friday, July 24th. Finally, Mizuho raised their price target on Avalo Therapeutics from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Avalo Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $45.80.
Insider Transactions at Avalo Therapeutics
In other news, insider Mittie Doyle sold 1,450 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $18.00, for a total value of $26,100.00. Following the sale, the insider directly owned 51,776 shares in the company, valued at approximately $931,968. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.46% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in AVTX. Geode Capital Management LLC lifted its holdings 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 buying an additional 2,648 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Avalo Therapeutics during the third quarter valued at approximately $143,000. Boothbay Fund Management LLC bought a new position in Avalo Therapeutics in the second quarter worth approximately $56,000. Jump Financial LLC bought a new position in Avalo Therapeutics in the fourth quarter worth approximately $238,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Avalo Therapeutics during the fourth quarter worth $274,000. Hedge funds and other institutional investors 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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