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

Avalyn Pharma Inc. (NASDAQ:AVLN)’s share price reached a new 52-week low during trading on Tuesday. The company traded as low as $22.24 and last traded at $23.57, with a volume of 9,188 shares traded. The stock had previously closed at $23.33.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVLN. Raymond James Financial began coverage on Avalyn Pharma in a research note on Friday, October 2nd. They issued an “outperform” rating and a $60.00 price objective on the stock. Wall Street Zen cut Avalyn Pharma from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Morgan Stanley increased their price target on Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings initiated coverage on Avalyn Pharma in a research note on Thursday, August 13th. They issued a “sell (d+)” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Avalyn Pharma has an average rating of “Moderate Buy” and an average price target of $60.00.

Avalyn Pharma Trading Up 3.8%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12. The stock has a market cap of $1.07 billion and a PE ratio of -1.06. The business has a 50-day simple moving average of $32.28.

Avalyn Pharma (NASDAQ:AVLN) last posted its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.05. Sell-side analysts predict that Avalyn Pharma Inc. will post -3.86 earnings per share for the current year.

Hedge Funds Weigh In On Avalyn Pharma

A number of hedge funds have recently bought and sold shares of the business. Montanova Capital LLC acquired a new stake in Avalyn Pharma in the 2nd quarter worth about $82,402,000. Braidwell LP bought a new stake in Avalyn Pharma in the 2nd quarter valued at about $26,382,000. State Street Corp bought a new stake in Avalyn Pharma in the 2nd quarter valued at about $10,501,000. Finally, Bank of New York Mellon Corp bought a new stake in Avalyn Pharma in the 2nd quarter valued at about $1,321,000.

About Avalyn Pharma

Avalyn Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious fibrotic lung diseases. The company’s primary focus is pulmonary fibrosis, a group of progressive conditions in which scar tissue builds up in the lungs and impairs breathing.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for the treatment of idiopathic pulmonary fibrosis and other forms of pulmonary fibrosis. By delivering therapy directly to the lungs, Avalyn aims to provide a treatment option that may improve local drug exposure while potentially reducing some of the tolerability challenges associated with oral antifibrotic therapies.

The company’s development programs are centered on advancing inhaled medicines through clinical testing and, if successful, regulatory review.