Avalo Therapeutics (NASDAQ:AVTX) Issues Earnings Results

Avalo Therapeutics (NASDAQ:AVTX) announced its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.25, FiscalAI reports.

Avalo Therapeutics Price Performance

Avalo Therapeutics stock traded up $0.20 during midday trading on Friday, hitting $6.83. The company’s stock had a trading volume of 305,854 shares, compared to its average volume of 1,309,100. Avalo Therapeutics has a 1-year low of $6.53 and a 1-year high of $24.27. The company has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $15.88. The company has a market cap of $366.02 million, a price-to-earnings ratio of -1.56 and a beta of 0.75.

Insider Buying and Selling at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total transaction of $202,394.02. Following the sale, the chief financial officer directly owned 39,900 shares of the company’s stock, valued at approximately $651,567. This represents a 23.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 23,258 shares of company stock worth $395,434. Corporate insiders own 4.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AVTX shares. Guggenheim cut Avalo Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, October 23rd. Wall Street Zen lowered Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Oppenheimer set a $16.00 target price on shares of Avalo Therapeutics in a report on Monday, October 26th. Weiss Ratings upgraded Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Avalo Therapeutics in a report on Wednesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Avalo Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $36.82.

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.