Avalyn Pharma Inc.’s (NASDAQ:AVLN) Lock-Up Period Set To Expire on October 27th

Avalyn Pharma’s (NASDAQ:AVLN) lock-up period will end on Tuesday, October 27th. Avalyn Pharma had issued 16,666,667 shares in its initial public offering on April 30th. The total size of the offering was $300,000,006 based on an initial share price of $18.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVLN. Raymond James Financial began coverage on Avalyn Pharma in a research report on Friday, October 2nd. They issued an “outperform” rating and a $60.00 price objective for the company. Morgan Stanley boosted their target price on Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Wall Street Zen cut Avalyn Pharma from a “hold” rating to a “sell” rating in a research note on Sunday, September 20th. Finally, Weiss Ratings started coverage on Avalyn Pharma in a report on Thursday, August 13th. They set a “sell (d+)” rating for the company. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Avalyn Pharma Stock Down 4.4%

Shares of AVLN stock opened at $26.04 on Friday. The company has a quick ratio of 33.12, a current ratio of 33.12 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average is $31.37. Avalyn Pharma has a 52 week low of $22.24 and a 52 week high of $40.17.

Avalyn Pharma (NASDAQ:AVLN) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.05. Equities research analysts predict that Avalyn Pharma will post -3.86 earnings per share for the current year.

Hedge Funds Weigh In On Avalyn Pharma

A number of large investors have recently made changes to their positions in the company. Manchester Capital Management LLC acquired a new stake in Avalyn Pharma during the 3rd quarter worth approximately $36,000. State Street Corp acquired a new position in Avalyn Pharma in the 2nd quarter valued at $10,501,000. Braidwell LP acquired a new position in Avalyn Pharma in the 2nd quarter valued at $26,382,000. Montanova Capital LLC acquired a new position in Avalyn Pharma in the 2nd quarter valued at $82,402,000. Finally, Bank of New York Mellon Corp bought a new position in Avalyn Pharma during the 2nd quarter worth $1,321,000.

Avalyn Pharma Company Profile

Avalyn Pharma, Inc (NASDAQ: AVLN) is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with pulmonary fibrosis and other serious respiratory diseases. The company’s research is aimed at delivering established antifibrotic medicines directly to the lungs, with the potential to improve treatment effectiveness while reducing systemic exposure and associated side effects.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for idiopathic pulmonary fibrosis and progressive pulmonary fibrosis.