Avalo Therapeutics (NASDAQ:AVTX) Price Target Cut to $34.00 by Analysts at Wedbush

Avalo Therapeutics (NASDAQ:AVTX) had its price objective cut by analysts at Wedbush from $40.00 to $34.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 71.28% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Avalo Therapeutics from a “strong sell” rating to a “hold” rating in a report on Sunday, March 29th. Citigroup restated an “outperform” rating on shares of Avalo Therapeutics in a research report on Wednesday, May 6th. Guggenheim began coverage on shares of Avalo Therapeutics in a research note on Monday, February 2nd. They issued a “buy” rating and a $50.00 target price for the company. Wolfe Research began coverage on Avalo Therapeutics in a research note on Thursday, April 9th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, HC Wainwright decreased their price objective on Avalo Therapeutics from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Avalo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Avalo Therapeutics Stock Down 0.5%

Shares of NASDAQ:AVTX opened at $19.85 on Thursday. The company has a market capitalization of $582.20 million, a P/E ratio of -3.46 and a beta of 0.78. Avalo Therapeutics has a 52-week low of $3.39 and a 52-week high of $24.27. The stock’s fifty day simple moving average is $15.84 and its 200-day simple moving average is $16.44.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. On average, sell-side analysts anticipate that Avalo Therapeutics will post -3.1 earnings per share for the current year.

Insider Activity at Avalo Therapeutics

In related news, insider Paul Varki sold 75,063 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $20.17, for a total transaction of $1,514,020.71. Following the completion of the transaction, the insider owned 3,634 shares of the company’s stock, valued at approximately $73,297.78. This represents a 95.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mittie Doyle sold 3,970 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $18.01, for a total transaction of $71,499.70. Following the transaction, the insider directly owned 3,622 shares in the company, valued at approximately $65,232.22. This represents a 52.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 138,078 shares of company stock worth $2,501,346. 4.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFS Partners LLC grew its position in Avalo Therapeutics by 100.0% during the fourth quarter. PFS Partners LLC now owns 2,000 shares of the company’s stock valued at $36,000 after acquiring an additional 1,000 shares during the period. BIT Capital GmbH acquired a new position in shares of Avalo Therapeutics in the 3rd quarter valued at about $25,000. Geode Capital Management LLC lifted its stake in shares of Avalo Therapeutics by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock valued at $552,000 after purchasing an additional 2,648 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Avalo Therapeutics during the 3rd quarter worth about $143,000. Finally, Boothbay Fund Management LLC acquired a new stake in Avalo Therapeutics during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.