Avalo Therapeutics (NASDAQ:AVTX) Stock Rating Reaffirmed as "Neutral" by HC Wainwright

Key Points

• HC Wainwright reaffirmed its “neutral” rating on Avalo Therapeutics, while analysts overall maintain a “Moderate Buy” consensus and a $40.30 average price target.
• Avalo shares opened at $7.45, well below the 52-week high of $24.27. The company also reported a quarterly loss of $0.83 per share, missing the $0.58-per-share consensus estimate.
• Institutional ownership stands at 87.06%, with several funds increasing or initiating positions, while company insiders sold 24,258 shares in the latest quarter.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at HC Wainwright in a research note issued to investors on Friday, MarketBeat reports.

A number of other research firms have also commented on AVTX. Cantor Fitzgerald reissued an "overweight" rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. 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 on the stock. Weiss Ratings raised shares of Avalo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Guggenheim set a $48.00 target price on shares of Avalo Therapeutics and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Wall Street Zen lowered shares of Avalo Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.30.

Avalo Therapeutics Price Performance

Shares of Avalo Therapeutics stock opened at $7.45 on Friday. Avalo Therapeutics has a 52 week low of $6.85 and a 52 week high of $24.27. The business has a 50 day moving average price of $16.30 and a 200-day moving average price of $16.67.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.25). As a group, equities research analysts expect that Avalo Therapeutics will post -2.95 EPS for the current year.

Insider Buying and Selling at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total value of $202,394.02. Following the transaction, the chief financial officer owned 39,900 shares in the company, valued at $651,567. The trade was a 23.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 24,258 shares of company stock valued at $415,434. 4.46% of the stock is owned by insiders.

Institutional Trading of Avalo Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC grew its stake in Avalo Therapeutics by 624.9% in the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company's stock valued at $10,889,000 after purchasing an additional 507,960 shares during the period. Seven Fleet Capital Management LP increased its position in shares of Avalo Therapeutics by 34.3% during the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company's stock valued at $14,244,000 after purchasing an additional 196,882 shares during the last quarter. Braidwell LP bought a new stake in shares of Avalo Therapeutics during the 2nd quarter worth $30,107,000. Wellington Management Group LLP bought a new stake in shares of Avalo Therapeutics during the 2nd quarter worth $1,945,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Avalo Therapeutics in the 2nd quarter worth about $1,897,000. 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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