Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Update

Key Points

• Avalo Therapeutics experienced a significant decrease in short interest, dropping 74.7% from 164,100 shares to 41,500 shares as of July 31st.
• The company reported a loss of ($1.92) earnings per share for the last quarter, which was worse than the consensus estimate of ($1.43).
• HC Wainwright upgraded Avalo Therapeutics from a "hold" to a "buy" rating with a price target of $15.00, as it maintains a consensus target price of $30.00.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 41,500 shares, adropof74.7% from the July 15th total of 164,100 shares. Approximately0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 154,900 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 154,900 shares, the days-to-cover ratio is presently 0.3 days. Approximately0.4% of the shares of the company are sold short.

Avalo Therapeutics Trading Down 1.3%

Shares of AVTX stock opened at $8.95 on Friday. The business's 50 day moving average is $5.97 and its two-hundred day moving average is $6.06. Avalo Therapeutics has a twelve month low of $3.39 and a twelve month high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last announced 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, research analysts predict that Avalo Therapeutics will post -19.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AVTX. Nantahala Capital Management LLC purchased a new position in shares of Avalo Therapeutics in the 1st quarter valued at approximately $7,209,000. RWA Wealth Partners LLC purchased a new position in shares of Avalo Therapeutics in the 1st quarter valued at approximately $2,505,000. Velan Capital Investment Management LP purchased a new position in shares of Avalo Therapeutics in the 4th quarter valued at approximately $817,000. Affinity Asset Advisors LLC grew its stake in shares of Avalo Therapeutics by 19.3% in the 1st quarter. Affinity Asset Advisors LLC now owns 657,154 shares of the company's stock valued at $5,264,000 after purchasing an additional 106,389 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Avalo Therapeutics by 937.0% in the 4th quarter. Geode Capital Management LLC now owns 104,853 shares of the company's stock valued at $779,000 after purchasing an additional 94,742 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright upgraded Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research note on Monday, June 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avalo Therapeutics has an average rating of "Buy" and a consensus target price of $30.00.

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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