Avalyn Pharma (NASDAQ:AVLN) Shares Gap Down – Here’s What Happened

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) gapped down prior to trading on Monday . The stock had previously closed at $29.73, but opened at $28.25. Avalyn Pharma shares last traded at $28.37, with a volume of 1,744 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Avalyn Pharma to a “hold” rating in a report on Saturday, May 9th. Guggenheim assumed coverage on Avalyn Pharma in a report on Monday, May 25th. They set a “buy” rating and a $80.00 price objective for the company. Jefferies Financial Group initiated coverage on Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $52.00 price objective for the company. Morgan Stanley assumed coverage on Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 target price on the stock. Finally, Evercore initiated coverage on Avalyn Pharma in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $59.00.

Avalyn Pharma Stock Up 0.6%

The company’s 50 day moving average is $28.75. The company has a market capitalization of $1.23 billion and a price-to-earnings ratio of -1.27.

Avalyn Pharma (NASDAQ:AVLN) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($21.83) EPS for the quarter, missing the consensus estimate of ($16.38) by ($5.45).

Insiders Place Their Bets

In other news, major shareholder Sr One Capital Management, Llc bought 555,555 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the insider owned 2,186,562 shares of the company’s stock, valued at $39,358,116. This represents a 34.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jill Carroll bought 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 acquisition, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

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.