Avalo Therapeutics, Inc. (NASDAQ:AVTX) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Avalo Therapeutics (NASDAQ:AVTX) has received a consensus recommendation of "Buy" from nine brokerages, with a 12-month price target averaging $30.00.
• Institutional investors hold 87.06% of Avalo Therapeutics' stock, with significant increases in stake by firms like Bank of America and Nantahala Capital Management.
• The company's stock performance has seen a fifty-two week low of $3.39 and a high of $16.00, opening at $10.14 recently.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) has been assigned a consensus rating of "Buy" from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.00.

A number of equities analysts have recently commented on AVTX shares. Cowen started coverage on Avalo Therapeutics in a research note on Friday, September 5th. They issued a "buy" rating on the stock. Cantor Fitzgerald started coverage on Avalo Therapeutics in a research note on Friday, August 15th. They issued an "overweight" rating on the stock. TD Cowen started coverage on Avalo Therapeutics in a research note on Friday, September 5th. They issued a "buy" rating on the stock. Finally, HC Wainwright upgraded Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Monday, June 2nd.

Institutional Investors Weigh In On Avalo Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC grew its position in Avalo Therapeutics by 10.6% during the second quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company's stock worth $4,965,000 after buying an additional 95,000 shares in the last quarter. Affinity Asset Advisors LLC grew its position in Avalo Therapeutics by 19.3% during the first quarter. Affinity Asset Advisors LLC now owns 657,154 shares of the company's stock worth $5,264,000 after buying an additional 106,389 shares in the last quarter. Bank of America Corp DE grew its position in Avalo Therapeutics by 7,066.8% during the second quarter. Bank of America Corp DE now owns 406,571 shares of the company's stock worth $2,029,000 after buying an additional 400,898 shares in the last quarter. RWA Wealth Partners LLC acquired a new stake in Avalo Therapeutics during the first quarter worth about $2,505,000. Finally, Velan Capital Investment Management LP grew its position in Avalo Therapeutics by 38.4% during the second quarter. Velan Capital Investment Management LP now owns 154,972 shares of the company's stock worth $773,000 after buying an additional 43,000 shares in the last quarter. 87.06% of the stock is owned by institutional investors and hedge funds.

Avalo Therapeutics Stock Performance

NASDAQ AVTX opened at $10.14 on Tuesday. Avalo Therapeutics has a fifty-two week low of $3.39 and a fifty-two week high of $16.00. The stock's 50-day moving average is $8.26 and its two-hundred day moving average is $6.38.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.49). On average, equities research analysts expect that Avalo Therapeutics will post -19.07 EPS for the current fiscal year.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.

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