Avalo Therapeutics, Inc. $AVTX Shares Bought by Allostery Investments LP

Key Points

• Allostery Investments LP raised its position in Avalo Therapeutics by 46.1%, now owning 107,141 shares after increasing their stake by 33,827 shares during the first quarter, making it their 20th largest position.
• Avalon Therapeutics’ stock showed significant movements, reaching a price of $9.02 with a 52-week high of $16.00 and missing earnings expectations with a reported EPS of ($1.92).
• Seven research analysts have rated Avalo Therapeutics with a "Buy" rating, and the average target price has been set at $30.00.

Allostery Investments LP raised its holdings in Avalo Therapeutics, Inc. (NASDAQ:AVTX - Free Report) by 46.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 107,141 shares of the company's stock after buying an additional 33,827 shares during the quarter. Avalo Therapeutics comprises 1.2% of Allostery Investments LP's holdings, making the stock its 20th largest position. Allostery Investments LP owned 0.99% of Avalo Therapeutics worth $858,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AVTX. Marshall Wace LLP purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth about $114,000. Tower Research Capital LLC TRC raised its stake in shares of Avalo Therapeutics by 998.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company's stock worth $31,000 after purchasing an additional 3,754 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth about $168,000. Velan Capital Investment Management LP purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth about $817,000. Finally, RWA Wealth Partners LLC purchased a new position in shares of Avalo Therapeutics in the first quarter worth about $2,505,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Avalo Therapeutics Stock Up 14.2%

AVTX stock traded up $1.44 during trading on Friday, hitting $11.60. 362,485 shares of the company traded hands, compared to its average volume of 211,948. The stock's 50-day simple moving average is $7.53 and its 200 day simple moving average is $6.24. Avalo Therapeutics, Inc. has a 1 year low of $3.39 and a 1 year high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last announced its quarterly earnings results 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). As a group, sell-side analysts expect that Avalo Therapeutics, Inc. will post -19.07 EPS for the current year.

Analyst Upgrades and Downgrades

AVTX has been the subject of several research analyst reports. HC Wainwright upgraded Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research note on Monday, June 2nd. Cantor Fitzgerald initiated coverage on Avalo Therapeutics in a research note on Friday, August 15th. They issued an "overweight" rating for the company. Finally, TD Cowen initiated coverage on Avalo Therapeutics in a research note on Friday. They issued a "buy" rating for the company. Eight 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 price target of $30.00.

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.