HC Wainwright Issues Positive Forecast for Avalo Therapeutics (NASDAQ:AVTX) Stock Price

Key Points

• HC Wainwright has raised its price target for Avalo Therapeutics from $15.00 to $25.00, suggesting a potential upside of 124.32% from the current stock price.
• Avalo Therapeutics has received a majority of "buy" ratings from nine equity research analysts, with a consensus rating of "Buy" and an average price target of $31.67.
• Institutional investors and hedge funds own approximately 87.06% of Avalo Therapeutics' stock, indicating significant investor confidence in the company.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) had its price target increased by equities researchers at HC Wainwright from $15.00 to $25.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 111.33% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald started coverage on shares of Avalo Therapeutics in a research note on Friday, August 15th. They set an "overweight" rating on the stock. Cowen initiated coverage on Avalo Therapeutics in a research note on Friday, September 5th. They issued a "buy" rating for the company. Finally, TD Cowen started coverage on Avalo Therapeutics in a research note on Friday, September 5th. They issued a "buy" rating for the company. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Avalo Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $31.67.

Avalo Therapeutics Price Performance

NASDAQ AVTX traded down $0.05 during mid-day trading on Wednesday, reaching $11.83. 322,271 shares of the company's stock traded hands, compared to its average volume of 224,618. Avalo Therapeutics has a 1-year low of $3.39 and a 1-year high of $16.00. The company has a fifty day simple moving average of $8.76 and a 200-day simple moving average of $6.51.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last posted its quarterly earnings data 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). Sell-side analysts expect that Avalo Therapeutics will post -19.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.