Avalo Therapeutics (NASDAQ:AVTX) Price Target Raised to $58.00

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) had its price objective boosted by investment analysts at BTIG Research from $40.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's target price would indicate a potential upside of 256.70% from the stock's previous close.

Several other research firms have also commented on AVTX. Wolfe Research initiated coverage on shares of Avalo Therapeutics in a research report on Thursday, April 9th. They set an "outperform" rating and a $48.00 price target on the stock. Citigroup reaffirmed an "outperform" rating on shares of Avalo Therapeutics in a research report on Wednesday. Wall Street Zen raised shares of Avalo Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Sunday, March 29th. Citizens Jmp started coverage on shares of Avalo Therapeutics in a report on Monday, April 6th. They issued an "outperform" rating and a $52.00 target price for the company. Finally, HC Wainwright lifted their target price on shares of Avalo Therapeutics from $25.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.83.

Avalo Therapeutics Stock Performance

AVTX stock opened at $16.26 on Wednesday. The firm has a market cap of $434.30 million, a PE ratio of -2.84 and a beta of 0.78. The firm's 50 day moving average price is $15.33 and its 200-day moving average price is $16.24. Avalo Therapeutics has a one year low of $3.39 and a one year high of $20.72.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($1.54) by $1.17. The firm had revenue of $0.06 million for the quarter, compared to analysts' expectations of ($0.21) million. Equities research analysts predict that Avalo Therapeutics will post -4.04 EPS for the current fiscal year.

Insider Activity at Avalo Therapeutics

In other Avalo Therapeutics news, insider Mittie Doyle sold 3,970 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $18.01, for a total value of $71,499.70. Following the completion of the transaction, the insider owned 3,622 shares in the company, valued at $65,232.22. The trade was a 52.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher Ryan Sullivan sold 8,457 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $13.23, for a total transaction of $111,886.11. Following the completion of the transaction, the chief financial officer owned 423 shares of the company's stock, valued at approximately $5,596.29. This trade represents a 95.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 63,015 shares of company stock valued at $987,326 in the last quarter. 4.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors have recently modified their holdings of AVTX. Caligan Partners LP acquired a new position in shares of Avalo Therapeutics in the third quarter worth $10,592,000. Balyasny Asset Management L.P. acquired a new position in Avalo Therapeutics in the third quarter valued at $10,390,000. Vanguard Group Inc. boosted its stake in Avalo Therapeutics by 314.9% in the third quarter. Vanguard Group Inc. now owns 692,637 shares of the company's stock valued at $8,803,000 after acquiring an additional 525,696 shares in the last quarter. Millennium Management LLC boosted its stake in Avalo Therapeutics by 380.2% in the fourth quarter. Millennium Management LLC now owns 659,979 shares of the company's stock valued at $11,985,000 after acquiring an additional 522,548 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Avalo Therapeutics in the fourth quarter valued at $8,637,000. Institutional investors and hedge funds own 87.06% of the company's stock.

Avalo Therapeutics Company Profile

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company's proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.

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