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

Key Points

• Avalo Therapeutics experienced a 38.4% decrease in short interest in August, with total short shares falling to 55,600.
• The company's stock is currently trading at $10.20, down 4.4%, and has a 12-month high of $16.00 and a low of $3.39.
• Several analysts have issued a Buy rating for Avalo Therapeutics, with a consensus target price of $30.00.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 55,600 shares, a decrease of 38.4% from the August 15th total of 90,200 shares. Approximately 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 194,400 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 194,400 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.5% of the company's stock are sold short.

Analyst Upgrades and Downgrades

AVTX has been the topic of several recent analyst reports. HC Wainwright upped their price objective on shares of Avalo Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday. Cantor Fitzgerald initiated coverage on shares of Avalo Therapeutics in a report on Friday, August 15th. They set an "overweight" rating on the stock. TD Cowen initiated coverage on shares of Avalo Therapeutics in a report on Friday, September 5th. They set a "buy" rating on the stock. Finally, Cowen initiated coverage on shares of Avalo Therapeutics in a report on Friday, September 5th. They issued a "buy" rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Avalo Therapeutics has an average rating of "Buy" and an average target price of $31.67.

Institutional Investors Weigh In On Avalo Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp acquired a new stake in shares of Avalo Therapeutics during the 4th quarter worth approximately $168,000. Allostery Investments LP lifted its position in shares of Avalo Therapeutics by 46.1% during the 1st quarter. Allostery Investments LP now owns 107,141 shares of the company's stock valued at $858,000 after buying an additional 33,827 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in shares of Avalo Therapeutics by 19.3% during the 1st quarter. Affinity Asset Advisors LLC now owns 657,154 shares of the company's stock valued at $5,264,000 after buying an additional 106,389 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Avalo Therapeutics during the 1st quarter valued at approximately $7,209,000. Finally, RWA Wealth Partners LLC purchased a new position in shares of Avalo Therapeutics during the 1st quarter valued at approximately $2,505,000. Institutional investors and hedge funds own 87.06% of the company's stock.

Avalo Therapeutics Price Performance

Shares of NASDAQ AVTX traded down $0.05 during midday trading on Friday, reaching $11.83. 322,271 shares of the stock were exchanged, compared to its average volume of 224,618. Avalo Therapeutics has a twelve month low of $3.39 and a twelve month high of $16.00. The firm has a 50-day simple moving average of $8.76 and a two-hundred day simple moving average of $6.51.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) EPS for the quarter, missing analysts' consensus estimates of ($1.43) by ($0.49). Analysts expect that Avalo Therapeutics will post -19.07 EPS for the current 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.