Avalyn Pharma (NASDAQ:AVLN) Trading Down 5.3% – Here’s Why

Avalyn Pharma Inc. (NASDAQ:AVLN)’s stock price was down 5.3% during mid-day trading on Tuesday . The stock traded as low as $26.91 and last traded at $27.32. Approximately 118,307 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 357,884 shares. The stock had previously closed at $28.84.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AVLN shares. Wall Street Zen upgraded Avalyn Pharma to a “hold” rating in a research report on Saturday, May 9th. Guggenheim started coverage on Avalyn Pharma in a research report on Monday. They issued a “buy” rating and a $80.00 price target for the company. Evercore started coverage on Avalyn Pharma in a research report on Tuesday. They issued an “outperform” rating and a $51.00 price target for the company. Morgan Stanley started coverage on Avalyn Pharma in a research report on Tuesday. They issued an “overweight” rating and a $53.00 price target for the company. Finally, Jefferies Financial Group started coverage on Avalyn Pharma in a research report on Monday. They issued a “buy” rating and a $52.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $59.00.

Avalyn Pharma Stock Down 6.9%

Insider Transactions at Avalyn Pharma

In related news, Director Jill Carroll acquired 277,778 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $18.00 per share, for a total transaction of $5,000,004.00. Following the transaction, the director owned 2,186,562 shares in the company, valued at $39,358,116. This trade represents a 14.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the transaction, the insider owned 2,186,562 shares in the company, valued at $39,358,116. This represents a 34.06% increase in their position. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.