Avalo Therapeutics (NASDAQ:AVTX) Lifted to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Avalo Therapeutics (NASDAQ:AVTX) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, Marketbeat reports.

Avalo Therapeutics Stock Down 3.2 %

NASDAQ AVTX opened at $11.63 on Tuesday. Avalo Therapeutics has a twelve month low of $3.95 and a twelve month high of $1,130.40. The company has a market cap of $11.98 million, a price-to-earnings ratio of -0.02 and a beta of 1.15. The business’s fifty day moving average is $8.49 and its 200 day moving average is $14.03.

Institutional Investors Weigh In On Avalo Therapeutics

Several hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP acquired a new stake in shares of Avalo Therapeutics during the 4th quarter valued at $95,000. Goldman Sachs Group Inc. boosted its holdings in shares of Avalo Therapeutics by 23.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 649,653 shares of the company’s stock valued at $324,000 after acquiring an additional 124,769 shares in the last quarter. Braidwell LP acquired a new stake in shares of Avalo Therapeutics during the 1st quarter valued at $433,000. Acadian Asset Management LLC acquired a new stake in shares of Avalo Therapeutics during the 3rd quarter valued at $34,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Avalo Therapeutics by 819.1% during the 1st quarter. Renaissance Technologies LLC now owns 367,193 shares of the company’s stock valued at $266,000 after acquiring an additional 327,241 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation. The company's drug candidates include AVTX-002, a fully human anti-LIGHT monoclonal antibody, which is under Phase II clinical trial for the treatment of non-eosinophilic asthma, as well as Crohn's disease; Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome; and AVTX-008, a fully human B and T Lymphocyte Attenuator (BTLA) agonist fusion protein.