Nan Fung Trinity HK Ltd. lifted its position in Avalo Therapeutics, Inc. (NASDAQ:AVTX – Free Report) by 161.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,000 shares of the company’s stock after purchasing an additional 116,700 shares during the period. Nan Fung Trinity HK Ltd. owned 0.35% of Avalo Therapeutics worth $2,897,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AVTX. AlphaCentric Advisors LLC purchased a new position in Avalo Therapeutics during the 1st quarter worth $174,000. Glenmede Trust Co. NA raised its position in Avalo Therapeutics by 25.8% during the 1st quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after purchasing an additional 5,280 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Avalo Therapeutics in the 1st quarter worth $607,000. Sei Investments Co. purchased a new stake in shares of Avalo Therapeutics in the 1st quarter worth $849,000. Finally, Renaissance Technologies LLC lifted its holdings 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 worth $1,793,000 after buying an additional 101,814 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Guggenheim lowered shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. Oppenheimer set a $16.00 price objective on shares of Avalo Therapeutics in a research note on Monday, October 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Avalo Therapeutics in a report on Wednesday, November 4th. Finally, Wedbush reduced their price objective on shares of Avalo Therapeutics from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.82.
Read Our Latest Stock Analysis on AVTX
Avalo Therapeutics Price Performance
AVTX stock opened at $7.70 on Friday. The firm has a 50-day simple moving average of $12.55 and a two-hundred day simple moving average of $15.68. Avalo Therapeutics, Inc. has a one year low of $6.53 and a one year high of $24.27.
Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.25. Equities research analysts expect that Avalo Therapeutics, Inc. will post -2.52 earnings per share for the current year.
Insiders Place Their Bets
In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the completion of the sale, the chief financial officer directly owned 39,900 shares in the company, valued at $651,567. This trade represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,258 shares of company stock valued at $395,434 in the last three months. 4.46% of the stock is owned by company insiders.
Avalo Therapeutics Company Profile
Avalo Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated and inflammatory diseases. The company does not have marketed products and is centered on advancing drug candidates through clinical development. Its lead candidate, AVTX-009, is a monoclonal antibody that targets interleukin-1 beta (IL-1β), an inflammatory signaling protein. Avalo is developing the therapy for hidradenitis suppurativa, a chronic inflammatory skin disease, and has described potential applications in other inflammatory conditions.
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