Avalo Therapeutics (NASDAQ:AVTX) Trading 3.1% Higher – Time to Buy?

Avalo Therapeutics, Inc. (NASDAQ:AVTX)’s share price traded up 3.1% during mid-day trading on Thursday . The company traded as high as $7.28 and last traded at $7.21. 21,443 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 61,265 shares. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BTIG Research assumed coverage on Avalo Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $40.00 price target on the stock. Wedbush assumed coverage on Avalo Therapeutics in a report on Friday. They set an “outperform” rating and a $18.00 price target on the stock.

Avalo Therapeutics Stock Up 17.9 %

The company has a 50 day simple moving average of $7.80 and a 200-day simple moving average of $9.39.

Hedge Funds Weigh In On Avalo Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new stake in shares of Avalo Therapeutics during the third quarter valued at approximately $9,186,000. Ikarian Capital LLC increased its holdings in shares of Avalo Therapeutics by 1,673.0% during the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock valued at $9,218,000 after acquiring an additional 915,629 shares in the last quarter. Northern Trust Corp bought a new stake in shares of Avalo Therapeutics during the fourth quarter valued at approximately $168,000. Velan Capital Investment Management LP bought a new stake in shares of Avalo Therapeutics during the fourth quarter valued at approximately $817,000. Finally, Tower Research Capital LLC TRC grew its holdings in Avalo Therapeutics by 998.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company’s stock worth $31,000 after buying an additional 3,754 shares in the last quarter. 87.06% of the stock is owned by institutional investors and hedge funds.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.