Avalyn Pharma (NASDAQ:AVLN) Reaches New 12-Month High – Here’s What Happened

Avalyn Pharma Inc. (NASDAQ:AVLN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.32 and last traded at $32.73, with a volume of 171345 shares trading hands. The stock had previously closed at $31.00.

Wall Street Analysts Forecast Growth

Several analysts have commented on AVLN shares. Evercore began coverage on shares of Avalyn Pharma in a research note on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price objective for the company. Wall Street Zen raised shares of Avalyn Pharma to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Guggenheim assumed coverage on shares of Avalyn Pharma in a research note on Monday, May 25th. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of Avalyn Pharma in a report on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $59.00.

Avalyn Pharma Stock Performance

The company’s 50 day moving average is $28.82.

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($21.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($16.38) by ($5.45).

Insider Buying and Selling

In other news, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of Avalyn Pharma stock in a transaction dated Friday, May 1st. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $9,999,990.00. Following the acquisition, the insider owned 2,186,562 shares of the company’s stock, valued at $39,358,116. This trade represents a 34.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jill Carroll purchased 277,778 shares of the business’s stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $18.00 per share, for a total transaction of $5,000,004.00. Following the completion of the purchase, the director owned 2,186,562 shares of the company’s stock, valued at $39,358,116. This represents a 14.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.