Avalo Therapeutics, Inc. (NASDAQ:AVTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Avalo Therapeutics, Inc. (NASDAQ:AVTX) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $45.10.

AVTX has been the subject of a number of analyst reports. Wall Street Zen lowered Avalo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. HC Wainwright dropped their price objective on Avalo Therapeutics from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. BTIG Research reissued a “buy” rating and issued a $58.00 target price on shares of Avalo Therapeutics in a research note on Tuesday, June 16th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Avalo Therapeutics in a report on Wednesday, September 16th.

Insider Buying and Selling

In other news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the completion of the transaction, the chief financial officer owned 39,900 shares of the company’s stock, valued at $651,567. This trade represents a 23.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 24,258 shares of company stock valued at $415,434 in the last ninety days. Company insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Avalo Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of AVTX. Squarepoint Ops LLC increased its position in 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 during the last quarter. Seven Fleet Capital Management LP boosted its stake in shares of Avalo Therapeutics by 34.3% during the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock worth $14,244,000 after acquiring an additional 196,882 shares during the period. Braidwell LP bought a new position in shares of Avalo Therapeutics during the 2nd quarter worth approximately $30,107,000. Wellington Management Group LLP bought a new position in shares of Avalo Therapeutics during the 2nd quarter worth approximately $1,945,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Avalo Therapeutics during the 2nd quarter worth approximately $1,897,000. 87.06% of the stock is owned by institutional investors.

Avalo Therapeutics Price Performance

Avalo Therapeutics stock opened at $14.99 on Friday. The company has a market cap of $803.91 million, a price-to-earnings ratio of -3.43 and a beta of 0.68. The firm has a 50-day moving average of $18.17 and a 200-day moving average of $16.91. Avalo Therapeutics has a one year low of $12.51 and a one year high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last released 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). As a group, sell-side analysts expect that Avalo Therapeutics will post -2.82 earnings per share for the current year.

About Avalo Therapeutics

Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research strategy centers on addressing conditions in which abnormal immune-system activity contributes to inflammation and tissue damage.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to neutralize interleukin-1 beta, a pro-inflammatory cytokine involved in several inflammatory disorders. The company is evaluating AVTX-009 in clinical development for hidradenitis suppurativa, a chronic inflammatory skin condition, and may pursue additional indications in which interleukin-1 beta plays a role.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name as it shifted its strategic focus toward immunology and inflammation.