Avalyn Pharma (NASDAQ:AVLN) Shares Down 5.9% – What’s Next?

Avalyn Pharma Inc. (NASDAQ:AVLN) dropped 5.9% during trading on Friday. The company traded as low as $25.45 and last traded at $25.64. Approximately 67,070 shares traded hands during trading, a decline of 78% from the average session volume of 311,894 shares. The stock had previously closed at $27.25.

Analyst Ratings Changes

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

Avalyn Pharma Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 33.12 and a quick ratio of 33.12. The stock has a market capitalization of $1.15 billion and a P/E ratio of -1.14. The company has a 50 day simple moving average of $31.63.

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

Institutional Investors Weigh In On Avalyn Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Avalyn Pharma in the 2nd quarter worth approximately $1,321,000. Montanova Capital LLC acquired a new stake in shares of Avalyn Pharma in the second quarter worth $82,402,000. Braidwell LP acquired a new position in Avalyn Pharma during the second quarter valued at $26,382,000. State Street Corp purchased a new stake in Avalyn Pharma in the second quarter valued at $10,501,000. Finally, Manchester Capital Management LLC acquired a new position in shares of Avalyn Pharma in the 3rd quarter valued at about $36,000.

About Avalyn Pharma

Avalyn Pharma, Inc (NASDAQ: AVLN) is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with pulmonary fibrosis and other serious respiratory diseases. The company’s research is aimed at delivering established antifibrotic medicines directly to the lungs, with the potential to improve treatment effectiveness while reducing systemic exposure and associated side effects.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for idiopathic pulmonary fibrosis and progressive pulmonary fibrosis.