Avalo Therapeutics (NASDAQ:AVTX) Stock Rating Cut to “Neutral” at HC Wainwright

Avalo Therapeutics (NASDAQ:AVTX) was downgraded by HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Friday, MarketBeat reports.

A number of other brokerages have also recently commented on AVTX. Leerink Partners started coverage on Avalo Therapeutics in a research note on Monday, July 6th. They set an “outperform” rating and a $38.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Guggenheim set a $48.00 price target on shares of Avalo Therapeutics and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. 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 stock. Based on data from MarketBeat.com, Avalo Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Avalo Therapeutics Stock Up 5.5%

Avalo Therapeutics stock traded up $0.37 during midday trading on Friday, reaching $7.12. The stock had a trading volume of 2,166,086 shares, compared to its average volume of 1,304,229. Avalo Therapeutics has a 52-week low of $6.53 and a 52-week high of $24.27. The company has a fifty day moving average of $15.29 and a 200 day moving average of $16.16. The firm has a market cap of $381.85 million, a price-to-earnings ratio of -1.63 and a beta of 0.68.

Avalo Therapeutics (NASDAQ:AVTX) last posted its 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). Equities research analysts predict that Avalo Therapeutics will post -2.95 EPS for the current year.

Insider Transactions at Avalo Therapeutics

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total value of $202,394.02. Following the completion of the sale, the chief financial officer owned 39,900 shares of the company’s stock, valued at approximately $651,567. This trade represents a 23.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 23,258 shares of company stock valued at $395,434. 4.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avalo Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its position in shares of Avalo Therapeutics by 624.9% during the second quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock worth $10,889,000 after buying an additional 507,960 shares in the last quarter. Seven Fleet Capital Management LP increased its holdings 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 purchasing an additional 196,882 shares during the period. Braidwell LP bought a new stake in Avalo Therapeutics during the second quarter worth $30,107,000. Wellington Management Group LLP bought a new position in Avalo Therapeutics in the second quarter valued at $1,945,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Avalo Therapeutics during the second quarter valued at $1,897,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

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.