Affinity Asset Advisors LLC Buys 106,389 Shares of Avalo Therapeutics, Inc. $AVTX

Key Points

• Affinity Asset Advisors LLC increased its stake in Avalo Therapeutics by 19.3%, acquiring an additional 106,389 shares, leading to ownership of about 6.07% of the company.
• Several brokerages have issued positive ratings for Avalo Therapeutics, with HC Wainwright upgrading the stock from "hold" to "buy" and setting a target price of $15.00.
• Avalo Therapeutics' shares currently have a 52-week range of $3.39 to $16.00, with the stock down 4.9% recently despite a favorable rating from analysts.

Affinity Asset Advisors LLC increased its stake in Avalo Therapeutics, Inc. (NASDAQ:AVTX - Free Report) by 19.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 657,154 shares of the company's stock after acquiring an additional 106,389 shares during the quarter. Affinity Asset Advisors LLC owned approximately 6.07% of Avalo Therapeutics worth $5,264,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVTX. BVF Inc. IL grew its holdings in shares of Avalo Therapeutics by 7.2% during the fourth quarter. BVF Inc. IL now owns 1,036,679 shares of the company's stock valued at $7,703,000 after buying an additional 69,679 shares in the last quarter. RWA Wealth Partners LLC purchased a new position in shares of Avalo Therapeutics during the first quarter valued at $2,505,000. Velan Capital Investment Management LP purchased a new position in shares of Avalo Therapeutics during the fourth quarter valued at $817,000. Geode Capital Management LLC grew its holdings in shares of Avalo Therapeutics by 937.0% during the fourth quarter. Geode Capital Management LLC now owns 104,853 shares of the company's stock valued at $779,000 after buying an additional 94,742 shares in the last quarter. Finally, Allostery Investments LP purchased a new position in shares of Avalo Therapeutics during the fourth quarter valued at $545,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVTX has been the topic of a number of research analyst reports. HC Wainwright upgraded Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a report on Monday, June 2nd. Cantor Fitzgerald initiated coverage on Avalo Therapeutics in a report on Friday, August 15th. They set an "overweight" rating on the stock. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, Avalo Therapeutics has a consensus rating of "Buy" and an average price target of $30.00.

Avalo Therapeutics Price Performance

AVTX traded down $0.31 during trading on Thursday, reaching $9.34. 81,983 shares of the stock traded hands, compared to its average volume of 346,020. Avalo Therapeutics, Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $16.00. The stock's 50-day simple moving average is $6.91 and its two-hundred day simple moving average is $6.14.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.43) by ($0.49). Analysts forecast that Avalo Therapeutics, Inc. will post -19.07 EPS for the current fiscal year.

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.