Avalo Therapeutics’ (AVTX) Neutral Rating Reiterated at Guggenheim

Avalo Therapeutics (NASDAQ:AVTX)‘s stock had its “neutral” rating reiterated by investment analysts at Guggenheim in a report issued on Friday, MarketBeat.com reports.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. HC Wainwright reiterated a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Leerink Partners began coverage on Avalo Therapeutics in a research note on Monday, July 6th. They set an “outperform” rating and a $38.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Avalo Therapeutics in a report on Wednesday, September 16th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

Avalo Therapeutics Trading Down 39.2%

AVTX opened at $7.45 on Friday. Avalo Therapeutics has a 12-month low of $6.85 and a 12-month high of $24.27. The firm has a 50 day moving average of $16.30 and a two-hundred day moving average of $16.67. The firm has a market capitalization of $399.54 million, a PE ratio of -1.70 and a beta of 0.68.

Avalo Therapeutics (NASDAQ:AVTX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.25). As a group, analysts predict that Avalo Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Activity at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total transaction of $202,394.02. Following the completion of the transaction, the chief financial officer directly owned 39,900 shares of the company’s stock, valued at $651,567. The trade was a 23.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 24,258 shares of company stock worth $415,434. 4.46% of the stock is owned by company insiders.

Institutional Trading of Avalo Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. AlphaCentric Advisors LLC acquired a new stake in Avalo Therapeutics during the first quarter valued at $174,000. Glenmede Trust Co. NA increased its holdings in Avalo Therapeutics by 25.8% in the first quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after buying an additional 5,280 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Avalo Therapeutics in the first quarter valued at $607,000. Sei Investments Co. purchased a new position in Avalo Therapeutics in the first quarter valued at $849,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Avalo Therapeutics in the second quarter worth about $1,897,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research and development programs are intended to address conditions with significant unmet medical needs.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to inhibit interleukin-1 beta, an inflammatory cytokine involved in several immune-related disorders. The candidate is being evaluated for potential treatment of hidradenitis suppurativa, a chronic inflammatory skin disease, and other inflammatory conditions.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name in 2021.