Avalo Therapeutics (NASDAQ:AVTX) Trading 5.9% Higher – Here’s Why

Avalo Therapeutics, Inc. (NASDAQ:AVTX)’s share price traded up 5.9% during mid-day trading on Wednesday . The stock traded as high as $20.93 and last traded at $20.90. Approximately 411,364 shares changed hands during trading, a decline of 64% from the average daily volume of 1,156,686 shares. The stock had previously closed at $19.74.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AVTX shares. Bank of America began coverage on shares of Avalo Therapeutics in a research note on Friday, June 12th. They issued a “buy” rating and a $35.00 price objective on the stock. BTIG Research restated a “buy” rating and issued a $58.00 target price on shares of Avalo Therapeutics in a report on Tuesday, June 16th. Guggenheim set a $48.00 price target on shares of Avalo Therapeutics and gave the company a “buy” rating in a research report on Friday, August 7th. Citizens Jmp decreased their price target on Avalo Therapeutics from $62.00 to $55.00 and set a “market outperform” rating for the company in a report on Thursday, May 14th. Finally, HC Wainwright lowered their price objective on Avalo Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.10.

Avalo Therapeutics Stock Performance

The stock has a market capitalization of $1.12 billion, a P/E ratio of -4.78 and a beta of 0.80. The business has a fifty day simple moving average of $18.68 and a 200-day simple moving average of $16.66.

Avalo Therapeutics (NASDAQ:AVTX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, sell-side analysts anticipate that Avalo Therapeutics, Inc. will post -2.59 earnings per share for the current year.

Insiders Place Their Bets

In other Avalo Therapeutics news, insider Mittie Doyle sold 1,450 shares of Avalo Therapeutics stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $18.00, for a total value of $26,100.00. Following the completion of the sale, the insider directly owned 51,776 shares of the company’s stock, valued at approximately $931,968. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.46% of the company’s stock.

Institutional Trading of Avalo Therapeutics

Several large investors have recently made changes to their positions in AVTX. Geode Capital Management LLC raised its holdings in Avalo Therapeutics by 2.5% during the second quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock worth $552,000 after buying an additional 2,648 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Avalo Therapeutics by 25.8% during the first quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after buying an additional 5,280 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Avalo Therapeutics during the second quarter valued at about $196,000. Dimensional Fund Advisors LP bought a new stake in shares of Avalo Therapeutics during the third quarter worth about $143,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Avalo Therapeutics during the second quarter worth about $56,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

About Avalo Therapeutics

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.