Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Free Report) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $45.10.
Several research analysts recently commented on AVTX shares. Wall Street Zen downgraded shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Guggenheim set a $48.00 price target on shares of Avalo Therapeutics and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating on shares of Avalo Therapeutics in a research report on Friday. Finally, Leerink Partners began coverage on Avalo Therapeutics in a research note on Monday, July 6th. They issued an “outperform” rating and a $38.00 price objective on the stock.
View Our Latest Stock Analysis on AVTX
Insiders Place Their Bets
In other news, CFO Christopher Sullivan sold 12,394 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total transaction of $202,394.02. Following the sale, the chief financial officer directly owned 39,900 shares in the company, valued at approximately $651,567. The trade was a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 24,258 shares of company stock worth $415,434 over the last 90 days. 4.46% of the stock is owned by company insiders.
Hedge Funds Weigh In On Avalo Therapeutics
Hedge funds have recently modified their holdings of the stock. Glenmede Trust Co. NA lifted its position in shares of Avalo Therapeutics by 25.8% during the first quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock worth $384,000 after purchasing an additional 5,280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Avalo Therapeutics in the first quarter valued at approximately $174,000. Bank of America Corp DE increased its holdings in shares of Avalo Therapeutics by 3.5% in the first quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock valued at $9,600,000 after purchasing an additional 21,650 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Avalo Therapeutics in the 1st quarter worth approximately $607,000. Finally, Sei Investments Co. bought a new position in Avalo Therapeutics in the 1st quarter worth approximately $849,000. 87.06% of the stock is owned by institutional investors and hedge funds.
Avalo Therapeutics Price Performance
NASDAQ AVTX opened at $12.36 on Wednesday. The company has a 50 day simple moving average of $16.69 and a 200-day simple moving average of $16.79. The firm has a market capitalization of $662.87 million, a price-to-earnings ratio of -2.83 and a beta of 0.68. Avalo Therapeutics has a 52-week low of $11.21 and a 52-week high of $24.27.
Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, analysts predict that Avalo Therapeutics will post -2.80 EPS for the current year.
About Avalo Therapeutics
Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research strategy centers on addressing conditions in which abnormal immune-system activity contributes to inflammation and tissue damage.
Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to neutralize interleukin-1 beta, a pro-inflammatory cytokine involved in several inflammatory disorders. The company is evaluating AVTX-009 in clinical development for hidradenitis suppurativa, a chronic inflammatory skin condition, and may pursue additional indications in which interleukin-1 beta plays a role.
The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name as it shifted its strategic focus toward immunology and inflammation.
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