Avalyn Pharma (NASDAQ:AVLN) Trading 6.8% Higher – Here’s What Happened

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) shot up 6.8% during trading on Monday . The stock traded as high as $36.16 and last traded at $35.86. Approximately 248,034 shares were traded during trading, a decline of 21% from the average daily volume of 312,304 shares. The stock had previously closed at $33.57.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVLN shares. Guggenheim assumed coverage on shares of Avalyn Pharma in a research note on Monday, May 25th. They issued a “buy” rating and a $80.00 price target for the company. Morgan Stanley lifted their price objective on Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings began coverage on Avalyn Pharma in a research note on Thursday, August 13th. They issued a “sell (d+)” rating for the company. Zacks Research upgraded Avalyn Pharma to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Avalyn Pharma from a “sell” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Avalyn Pharma has an average rating of “Moderate Buy” and an average price target of $60.00.

Avalyn Pharma Stock Performance

The stock has a market capitalization of $1.52 billion and a price-to-earnings ratio of -1.50. The company has a current ratio of 33.12, a quick ratio of 33.12 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $33.05.

Avalyn Pharma (NASDAQ:AVLN) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.05. On average, analysts expect that Avalyn Pharma Inc. will post -3.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVLN. Bank of New York Mellon Corp purchased a new stake in Avalyn Pharma in the 2nd quarter worth approximately $1,321,000. Braidwell LP purchased a new position in shares of Avalyn Pharma during the second quarter valued at approximately $26,382,000. Finally, Montanova Capital LLC bought a new position in shares of Avalyn Pharma during the second quarter valued at approximately $82,402,000.

Avalyn Pharma Company Profile

Avalyn Pharma is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious and progressive pulmonary diseases. The company is working to deliver established antifibrotic medicines directly to the lungs through proprietary inhalation technologies, with the goal of improving treatment and potentially reducing systemic exposure and related side effects.

Avalyn’s lead program, AP01, is an inhaled formulation of pirfenidone being developed for patients with idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring and declining respiratory function.