Avalyn Pharma (NASDAQ:AVLN) Shares Up 6.5% – Still a Buy?

Avalyn Pharma Inc. (NASDAQ:AVLN) was up 6.5% on Thursday . The stock traded as high as $28.59 and last traded at $28.57. Approximately 8,663 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 345,549 shares. The stock had previously closed at $26.82.

Analyst Upgrades and Downgrades

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

Avalyn Pharma Stock Performance

Insider Activity at Avalyn Pharma

In related news, Director Jill Carroll purchased 277,778 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $18.00 per share, for a total transaction of $5,000,004.00. Following the purchase, the director directly owned 2,186,562 shares in the company, valued at approximately $39,358,116. This trade represents a 14.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sr One Capital Management, Llc purchased 555,555 shares of the firm’s stock in a transaction dated 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 purchase, the insider owned 2,186,562 shares in the company, valued at $39,358,116. The trade was a 34.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

About Avalyn Pharma

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.