900,000 Shares in Avalo Therapeutics, Inc. $AVTX Purchased by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management LLC has acquired 900,000 shares of Avalo Therapeutics, valued at approximately $7.2 million, representing about 8.31% ownership of the company.
• Avalo Therapeutics reported a loss of ($1.92) earnings per share for the most recent quarter, missing the estimate of ($1.43) by $0.49.
• Analysts have a consensus rating of "Buy" on Avalo Therapeutics, with a price target of $30.00 according to recent reports from various brokerages.

Nantahala Capital Management LLC bought a new position in Avalo Therapeutics, Inc. (NASDAQ:AVTX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 900,000 shares of the company's stock, valued at approximately $7,209,000. Nantahala Capital Management LLC owned 8.31% of Avalo Therapeutics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased 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 buying an additional 3,754 shares during the period. Marshall Wace LLP purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth $114,000. Northern Trust Corp purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth $168,000. Velan Capital Investment Management LP purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth $817,000. Finally, RWA Wealth Partners LLC purchased a new position in shares of Avalo Therapeutics in the first quarter worth $2,505,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright raised shares of Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Monday, June 2nd. TD Cowen initiated coverage on shares of Avalo Therapeutics in a research report on Friday. They set a "buy" rating on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Avalo Therapeutics in a research report on Friday, August 15th. They set an "overweight" rating on the stock. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Avalo Therapeutics currently has an average rating of "Buy" and a consensus price target of $30.00.

Avalo Therapeutics Stock Up 14.2%

Avalo Therapeutics stock traded up $1.44 during mid-day trading on Friday, reaching $11.60. 362,485 shares of the company traded hands, compared to its average volume of 211,948. The firm's 50 day moving average price is $7.53 and its 200 day moving average price is $6.25. Avalo Therapeutics, Inc. has a 52-week low of $3.39 and a 52-week high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last issued 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). Research analysts anticipate that Avalo Therapeutics, Inc. will post -19.07 EPS for the current year.

Avalo Therapeutics Profile

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.