Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Free Report) shares traded up 9.6% on Monday . The company traded as high as $15.81 and last traded at $16.1050. Approximately 92,993 shares changed hands during trading, a decline of 92% from the average daily volume of 1,135,265 shares. The stock had previously closed at $14.70.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on AVTX. HC Wainwright reduced their price objective on shares of Avalo Therapeutics from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Wedbush dropped their target price on shares of Avalo Therapeutics from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Citizens Jmp cut their target price on Avalo Therapeutics from $62.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 target price (up from $48.00) on shares of Avalo Therapeutics in a report on Monday, May 11th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $58.00 target price on shares of Avalo Therapeutics in a report on Tuesday, June 16th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.67.
Get Our Latest Research Report on Avalo Therapeutics
Avalo Therapeutics Price Performance
Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, equities research analysts predict that Avalo Therapeutics, Inc. will post -2.58 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Paul Varki sold 75,063 shares of the stock in a transaction on Wednesday, May 6th. The stock was 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 represents a 95.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher Ryan Sullivan sold 8,458 shares of Avalo Therapeutics stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $13.09, for a total value of $110,715.22. Following the completion of the sale, the chief financial officer directly owned 8,880 shares of the company’s stock, valued at approximately $116,239.20. This trade represents a 48.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 112,586 shares of company stock valued at $2,089,651 in the last 90 days. Insiders own 4.46% of the company’s stock.
Institutional Trading of Avalo Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of AVTX. PFS Partners LLC boosted its holdings in Avalo Therapeutics by 100.0% in the 4th quarter. PFS Partners LLC now owns 2,000 shares of the company’s stock worth $36,000 after buying an additional 1,000 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Avalo Therapeutics during the second quarter worth $56,000. Dimensional Fund Advisors LP purchased a new stake in shares of Avalo Therapeutics during the third quarter worth $143,000. AlphaCentric Advisors LLC bought a new position in shares of Avalo Therapeutics in the first quarter worth $174,000. Finally, Jump Financial LLC bought a new stake in shares of Avalo Therapeutics during the 4th quarter valued at $238,000. Institutional investors own 87.06% of the company’s stock.
About Avalo Therapeutics
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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