Avalo Therapeutics (NASDAQ:AVTX) Shares Down 0.6% - What's Next?

Key Points

• Avalo Therapeutics' shares decreased by 0.6% to $6.63, with trading volume around 22,443 shares, significantly below the average volume of 127,845 shares.
• Analysts at HC Wainwright upgraded Avalo from a "hold" to a "buy" rating, setting a new target price of $15.00, while the consensus target price among six analysts is $30.00.
• Institutional investors hold a substantial 87.06% of Avalo Therapeutics' stock, with BVF Inc. increasing its stake by 7.2% recently.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) dropped 0.6% on Thursday . The company traded as low as $6.50 and last traded at $6.63. Approximately 22,443 shares were traded during trading, a decline of 82% from the average daily volume of 127,845 shares. The stock had previously closed at $6.67.

Wall Street Analyst Weigh In

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

Avalo Therapeutics Stock Performance

The company has a fifty day moving average of $4.79 and a two-hundred day moving average of $5.92.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.18). Analysts predict that Avalo Therapeutics, Inc. will post -19.07 earnings per share for the current year.

Institutional Investors Weigh In On Avalo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in Avalo Therapeutics by 998.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company's stock worth $31,000 after acquiring an additional 3,754 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Avalo Therapeutics in the 1st quarter valued at about $80,000. Marshall Wace LLP bought a new stake in shares of Avalo Therapeutics in the 4th quarter valued at about $114,000. Walleye Capital LLC bought a new stake in shares of Avalo Therapeutics in the 4th quarter valued at about $145,000. Finally, Northern Trust Corp bought a new stake in shares of Avalo Therapeutics in the 4th quarter valued at about $168,000. Institutional investors own 87.06% of the company's stock.

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.