Bank of New York Mellon Corp Makes New Investment in Avalo Therapeutics, Inc. $AVTX

Key Points

• Bank of New York Mellon initiated a stake of 102,653 Avalo Therapeutics shares worth approximately $1.9 million. Institutional investors collectively own 87.06% of AVTX, with Vanguard and Nantahala Capital among other holders increasing their positions.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $45.10. Several firms, however, recently lowered their targets.
• AVTX opened at $19.71, with a market capitalization of about $1.06 billion, but its latest quarterly loss of $0.83 per share missed expectations of $0.58. Analysts expect a full-year loss of approximately $2.59 per share.

Bank of New York Mellon Corp acquired a new stake in shares of Avalo Therapeutics, Inc. (NASDAQ:AVTX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 102,653 shares of the company's stock, valued at approximately $1,897,000. Bank of New York Mellon Corp owned about 0.19% of Avalo Therapeutics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Avalo Therapeutics by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company's stock worth $552,000 after buying an additional 2,648 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in shares of Avalo Therapeutics by 10.6% during the second quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company's stock valued at $4,965,000 after acquiring an additional 95,000 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Avalo Therapeutics by 7,066.8% during the second quarter. Bank of America Corp DE now owns 406,571 shares of the company's stock valued at $2,029,000 after acquiring an additional 400,898 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Avalo Therapeutics in the second quarter worth $56,000. Finally, Vanguard Group Inc. lifted 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 worth $8,803,000 after acquiring an additional 525,696 shares during the period. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avalo Therapeutics

In other news, insider Mittie Doyle sold 1,450 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $18.00, for a total transaction of $26,100.00. Following the completion of the transaction, the insider directly owned 51,776 shares in the company, valued at $931,968. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,129 shares of company stock valued at $59,680 over the last 90 days. Corporate insiders own 4.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVTX. Citizens Jmp reduced their price objective on shares of Avalo Therapeutics from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 14th. Leerink Partners assumed coverage on shares of Avalo Therapeutics in a research report on Monday, July 6th. They issued an "outperform" rating and a $38.00 target price for the company. Weiss Ratings raised shares of Avalo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Wedbush reduced their price target on shares of Avalo Therapeutics from $40.00 to $34.00 and set an "outperform" rating on the stock in a research report on Thursday, May 14th. Finally, Wall Street Zen raised shares of Avalo Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Avalo Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $45.10.

Avalo Therapeutics Price Performance

NASDAQ:AVTX opened at $19.71 on Wednesday. Avalo Therapeutics, Inc. has a 1-year low of $9.54 and a 1-year high of $24.27. The company has a market capitalization of $1.06 billion, a PE ratio of -4.51 and a beta of 0.78. The firm's 50-day moving average price is $19.14 and its 200-day moving average price is $17.02.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.25). Equities analysts anticipate that Avalo Therapeutics, Inc. will post -2.59 EPS for the current fiscal year.

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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