Avalo Therapeutics (NASDAQ:AVTX) Given Neutral Rating at HC Wainwright

Avalo Therapeutics (NASDAQ:AVTX)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research note issued on Friday, Marketbeat reports.

Several other equities analysts have also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Guggenheim set a $48.00 price target on Avalo Therapeutics and gave the company a “buy” rating in a report on Friday, August 7th. Leerink Partners initiated coverage on Avalo Therapeutics in a report on Monday, July 6th. They issued an “outperform” rating and a $38.00 price target on the stock. Weiss Ratings upgraded Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.30.

Avalo Therapeutics Stock Performance

AVTX opened at $7.45 on Friday. Avalo Therapeutics has a one year low of $6.85 and a one year high of $24.27. The company has a fifty day moving average price of $16.30 and a 200-day moving average price of $16.67.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). On average, equities research analysts anticipate that Avalo Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Activity at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the transaction, the chief financial officer owned 39,900 shares of the company’s stock, valued at $651,567. This represents a 23.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 24,258 shares of company stock valued at $415,434. 4.46% of the stock is owned by corporate insiders.

Institutional Trading of Avalo Therapeutics

Hedge funds have recently made changes to their positions in the stock. Braidwell LP purchased a new position in Avalo Therapeutics in the second quarter worth $30,107,000. Affinity Asset Advisors LLC increased its stake in Avalo Therapeutics by 27.6% in the first quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company’s stock valued at $20,019,000 after acquiring an additional 289,786 shares during the last quarter. Seven Fleet Capital Management LP increased its stake in Avalo Therapeutics by 34.3% in the second quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock valued at $14,244,000 after acquiring an additional 196,882 shares during the last quarter. Bank of America Corp DE raised its position in Avalo Therapeutics by 3.5% during 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. Finally, Squarepoint Ops LLC raised its position in Avalo Therapeutics by 624.9% during the second quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock valued at $10,889,000 after purchasing an additional 507,960 shares in the last quarter. 87.06% of the stock is owned by institutional investors.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research and development programs are intended to address conditions with significant unmet medical needs.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to inhibit interleukin-1 beta, an inflammatory cytokine involved in several immune-related disorders. The candidate is being evaluated for potential treatment of hidradenitis suppurativa, a chronic inflammatory skin disease, and other inflammatory conditions.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name in 2021.