Avalo Therapeutics (NASDAQ:AVTX) Stock Keeps Neutral Rating at Guggenheim

Key Points

• Guggenheim reiterated its neutral rating on Avalo Therapeutics, while the broader analyst consensus remains “Moderate Buy” with a $40.30 average price target.
• Avalo shares opened at $7.45, down 39.2%, after the company reported a quarterly loss of $0.83 per share, missing the $0.58 consensus estimate.
• Institutional investors own 87.06% of the stock, while insiders have recently sold shares, including a 23.7% reduction in the CFO’s position under a pre-arranged trading plan.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Guggenheim in a report released on Friday, MarketBeat.com reports.

Other equities research analysts also recently issued reports about the stock. Leerink Partners initiated coverage on shares of Avalo Therapeutics in a research note on Monday, July 6th. They issued an "outperform" rating and a $38.00 target price for the company. Wall Street Zen downgraded Avalo Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Weiss Ratings upgraded Avalo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. HC Wainwright reiterated a "neutral" rating on shares of Avalo Therapeutics in a report on Friday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Ten equities 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.30.

Avalo Therapeutics Stock Down 39.2%

Shares of Avalo Therapeutics stock opened at $7.45 on Friday. The firm's 50 day moving average price is $16.30 and its 200-day moving average price is $16.67. Avalo Therapeutics has a 52-week low of $6.85 and a 52-week high of $24.27. The company has a market cap of $399.54 million, a P/E ratio of -1.70 and a beta of 0.68.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last posted 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, equities research analysts forecast that Avalo Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Activity at Avalo Therapeutics

In related 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 value of $202,394.02. Following the completion of the sale, the chief financial officer directly owned 39,900 shares in the company, valued at $651,567. This trade represents a 23.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 24,258 shares of company stock valued at $415,434. Company insiders own 4.46% of the company's stock.

Institutional Investors Weigh In On Avalo Therapeutics

Large investors have recently made changes to their positions in the stock. Braidwell LP acquired a new position in shares of Avalo Therapeutics in the 2nd quarter valued at $30,107,000. Seven Fleet Capital Management LP raised its stake in Avalo Therapeutics by 806.0% in the 1st quarter. Seven Fleet Capital Management LP now owns 573,883 shares of the company's stock worth $8,568,000 after acquiring an additional 510,540 shares during the last quarter. Squarepoint Ops LLC lifted its position in Avalo Therapeutics by 624.9% during the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company's stock worth $10,889,000 after acquiring an additional 507,960 shares during the period. DV Trading LLC acquired a new stake in Avalo Therapeutics during the 1st quarter worth about $5,376,000. Finally, Affinity Asset Advisors LLC grew its stake in Avalo Therapeutics by 27.6% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company's stock valued at $20,019,000 after purchasing an additional 289,786 shares during the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.

About Avalo Therapeutics

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.

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