Avalo Therapeutics, Inc. (NASDAQ:AVTX) Receives Average Rating of "Buy" from Analysts

Key Points

• Avalo Therapeutics, Inc. has received an average recommendation of "Buy" from seven research firms, with an average target price of $30.00.
• Despite the optimistic ratings, Avalo Therapeutics reported a loss of $1.92 per share in its recent earnings, which was below the consensus estimate.
• Institutional investors hold 87.06% of Avalo Therapeutics' stock, indicating strong backing from major financial players.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven analysts that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $30.00.

AVTX has been the subject of a number of analyst reports. HC Wainwright raised shares of Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research report on Monday, June 2nd. Cantor Fitzgerald began coverage on shares of Avalo Therapeutics in a report on Friday, August 15th. They issued an "overweight" rating for the company.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVTX. Northern Trust Corp bought a new stake in shares of Avalo Therapeutics in the 4th quarter valued at $168,000. Marshall Wace LLP bought a new position in Avalo Therapeutics during the fourth quarter worth $114,000. Tower Research Capital LLC TRC raised its holdings in Avalo Therapeutics by 998.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company's stock worth $31,000 after buying an additional 3,754 shares during the last quarter. Geode Capital Management LLC raised its holdings in Avalo Therapeutics by 937.0% during the fourth quarter. Geode Capital Management LLC now owns 104,853 shares of the company's stock worth $779,000 after buying an additional 94,742 shares during the last quarter. Finally, BVF Inc. IL raised its holdings in Avalo Therapeutics by 7.2% during the fourth quarter. BVF Inc. IL now owns 1,036,679 shares of the company's stock worth $7,703,000 after buying an additional 69,679 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Avalo Therapeutics Stock Up 1.6%

Avalo Therapeutics stock traded up $0.15 during mid-day trading on Friday, reaching $9.65. The company's stock had a trading volume of 148,701 shares, compared to its average volume of 341,427. Avalo Therapeutics has a 12 month low of $3.39 and a 12 month high of $16.00. The business's 50 day simple moving average is $6.82 and its 200 day simple moving average is $6.13.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($1.92) earnings per share for the quarter, missing analysts' consensus estimates of ($1.43) by ($0.49). Research analysts anticipate that Avalo Therapeutics will post -19.07 earnings per share for the current fiscal year.

About Avalo Therapeutics

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.