Avalyn Pharma (NASDAQ:AVLN) Stock Price Up 6% – Here’s What Happened

Avalyn Pharma Inc. (NASDAQ:AVLN)’s stock price rose 6% during mid-day trading on Thursday. The stock traded as high as $26.61 and last traded at $26.61. 3,434 shares changed hands during trading, a decline of 99% from the average daily volume of 311,706 shares. The stock had previously closed at $25.11.

Analyst Upgrades and Downgrades

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

Avalyn Pharma Price Performance

The stock has a market cap of $1.15 billion and a PE ratio of -1.14. The company’s 50-day moving average price is $31.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Montanova Capital LLC purchased a new stake in Avalyn Pharma during the second quarter valued at $82,402,000. Braidwell LP bought a new position in Avalyn Pharma during the second quarter valued at $26,382,000. State Street Corp purchased a new stake in shares of Avalyn Pharma in the 2nd quarter worth approximately $10,501,000. Bank of New York Mellon Corp bought a new position in shares of Avalyn Pharma during the second quarter valued at approximately $1,321,000. Finally, Manchester Capital Management LLC bought a new position in shares of Avalyn Pharma during the third quarter valued at approximately $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.