Avalo Therapeutics (NASDAQ:AVTX) Stock Gets Price Target Trim from Wedbush

Avalo Therapeutics (NASDAQ:AVTX) had its target price decreased by Wedbush from $34.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

AVTX has been the subject of several other reports. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered Avalo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. HC Wainwright reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Leerink Partners began coverage on Avalo Therapeutics in a report on Monday, July 6th. They set an “outperform” rating and a $38.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Avalo Therapeutics Stock Performance

Shares of NASDAQ:AVTX opened at $6.93 on Friday. The stock has a market capitalization of $371.66 million, a price-to-earnings ratio of -1.59 and a beta of 0.68. 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 $16.05 and a 200 day moving average price of $16.61.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, sell-side analysts expect that Avalo Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total transaction of $202,394.02. Following the sale, the chief financial officer owned 39,900 shares in the company, valued at $651,567. The trade was a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,258 shares of company stock valued at $395,434 over the last quarter. Company insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Avalo Therapeutics

Several hedge funds have recently made changes to their positions in AVTX. AlphaCentric Advisors LLC acquired a new position in Avalo Therapeutics in the 1st quarter worth approximately $174,000. Glenmede Trust Co. NA raised its stake in Avalo Therapeutics by 25.8% during the 1st quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after purchasing an additional 5,280 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Avalo Therapeutics in the first quarter valued at $607,000. Sei Investments Co. purchased a new stake in shares of Avalo Therapeutics in the first quarter valued at $849,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Avalo Therapeutics in the second quarter valued at $1,897,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Trending Headlines about Avalo Therapeutics

Here are the key news stories impacting Avalo Therapeutics this week:

• Positive Sentiment: Some analysts still see substantial upside. BTIG Research maintained a “buy” rating while setting a $10 price target, and Wedbush retained its “outperform” rating with a $22 target. Those targets imply meaningful potential appreciation from the recent trading level. BTIG Research recommendations Wedbush price target update
• Neutral Sentiment: Mixed analyst views remain. Guggenheim reaffirmed its “neutral” rating, while Wedbush’s decision to remain bullish provides some support despite its lower target. Guggenheim recommendations
• Neutral Sentiment: Trading was briefly halted under a limit-up/limit-down, or LULD, pause. The halt reflects heightened volatility but does not itself indicate a fundamental change in Avalo’s business.
• Negative Sentiment: AbbVie’s positive Phase 3 HS data appears to have weakened Avalo’s competitive position. Investors may view AbbVie’s results as increasing competition and reducing the perceived commercial opportunity for Avalo’s lead asset, resulting in selling pressure. AbbVie Phase 3 data article
• Negative Sentiment: Analyst sentiment has deteriorated. HC Wainwright downgraded Avalo from “buy” to “neutral,” while Wedbush reduced its price target from $34 to $22 despite keeping an “outperform” rating. The target reduction signals greater near-term uncertainty. HC Wainwright downgrade

About Avalo Therapeutics

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.