Avalo Therapeutics (NASDAQ:AVTX) Announces Earnings Results

Key Points

• Avalo reported a quarterly loss of $0.34 per share, beating analyst expectations for a $0.59 loss by $0.25.
• Shares fell $0.44 to $6.63 in Thursday trading, near the stock’s 12-month low of $6.53.
• Despite recent analyst downgrades, Avalo carries a consensus “Moderate Buy” rating and an average price target of $37.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) posted its earnings results on Thursday. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.25, FiscalAI reports.

Avalo Therapeutics Stock Performance

NASDAQ AVTX traded down $0.44 during trading on Thursday, hitting $6.63. The stock had a trading volume of 1,257,791 shares, compared to its average volume of 2,925,612. The firm has a 50 day moving average price of $13.74 and a 200 day moving average price of $15.88. Avalo Therapeutics has a twelve month low of $6.53 and a twelve month high of $24.27.

Wall Street Analysts Forecast Growth

AVTX has been the topic of a number of research analyst reports. HC Wainwright downgraded shares of Avalo Therapeutics from a "buy" rating to a "neutral" rating in a research note on Friday, October 23rd. Weiss Ratings raised shares of Avalo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Guggenheim downgraded shares of Avalo Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, October 23rd. Wall Street Zen downgraded shares of Avalo Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, September 12th. Finally, BTIG Research cut their target price on Avalo Therapeutics to $10.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Avalo Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Insider Activity

In other news, CFO Christopher Sullivan sold 12,394 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the completion of the transaction, the chief financial officer owned 39,900 shares of the company's stock, valued at approximately $651,567. This trade represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,258 shares of company stock worth $395,434 over the last 90 days. 4.46% of the stock is currently owned by corporate insiders.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company's research and development programs are intended to address conditions with significant unmet medical needs.

Avalo's lead product candidate is AVTX-009, a fully human monoclonal antibody designed to inhibit interleukin-1 beta, an inflammatory cytokine involved in several immune-related disorders. The candidate is being evaluated for potential treatment of hidradenitis suppurativa, a chronic inflammatory skin disease, and other inflammatory conditions.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name in 2021.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.