Avalo Therapeutics (NASDAQ:AVTX) Reaches New 12-Month Low – What’s Next?

Avalo Therapeutics, Inc. (NASDAQ:AVTX) hit a new 52-week low during trading on Tuesday. The company traded as low as $11.21 and last traded at $11.59, with a volume of 2,221,901 shares trading hands. The stock had previously closed at $11.27.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating on shares of Avalo Therapeutics in a research note on Friday, October 16th. Weiss Ratings raised shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Leerink Partners initiated coverage on shares of Avalo Therapeutics in a report on Monday, July 6th. They set an “outperform” rating and a $38.00 target price on the stock. Wall Street Zen lowered shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Finally, Guggenheim set a $48.00 target price on shares of Avalo Therapeutics and gave the stock a “buy” rating in a research report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Avalo Therapeutics has an average rating of “Moderate Buy” and an average target price of $45.10.

Avalo Therapeutics Trading Down 0.8%

The company has a market capitalization of $657.50 million, a PE ratio of -2.81 and a beta of 0.68. The firm has a fifty day moving average of $16.54 and a two-hundred day moving average of $16.75.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly 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). On average, equities analysts expect that Avalo Therapeutics, Inc. will post -2.80 EPS for the current fiscal year.

Insider Buying and Selling at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total transaction 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 represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 24,258 shares of company stock worth $415,434 over the last ninety days. Corporate insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC raised its holdings in Avalo Therapeutics by 624.9% during the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock valued at $10,889,000 after buying an additional 507,960 shares during the last quarter. Seven Fleet Capital Management LP boosted its position in Avalo Therapeutics by 34.3% during the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock valued at $14,244,000 after buying an additional 196,882 shares during the period. Braidwell LP bought a new stake in Avalo Therapeutics in the 2nd quarter worth $30,107,000. Wellington Management Group LLP bought a new stake in Avalo Therapeutics in the 2nd quarter worth $1,945,000. Finally, Bank of New York Mellon Corp bought a new stake in Avalo Therapeutics in the 2nd quarter worth $1,897,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

Avalo Therapeutics Company Profile

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.