Orbimed Advisors LLC Has $7.09 Million Stock Position in Avalo Therapeutics, Inc. $AVTX

Key Points

• Orbimed Advisors cut its Avalo Therapeutics position by 60% in the first quarter, selling 712,135 shares and retaining 475,165 shares worth approximately $7.09 million. Institutional investors and hedge funds collectively own 87.06% of AVTX.
• Wall Street analysts remain broadly positive, with 13 Buy ratings and one Sell rating. The stock has a “Moderate Buy” consensus and an average price target of $45.80, including Piper Sandler’s recently raised $60 target.
• Company insiders sold 93,428 shares worth about $1.76 million during the last quarter under pre-arranged Rule 10b5-1 plans. AVTX recently traded at $18.44, while Avalo reported a quarterly loss of $0.98 per share, slightly better than estimates.

Orbimed Advisors LLC reduced its position in shares of Avalo Therapeutics, Inc. (NASDAQ:AVTX - Free Report) by 60.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 475,165 shares of the company's stock after selling 712,135 shares during the period. Orbimed Advisors LLC owned about 1.62% of Avalo Therapeutics worth $7,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caligan Partners LP bought a new stake in Avalo Therapeutics during the third quarter worth about $10,592,000. Balyasny Asset Management L.P. bought a new position in shares of Avalo Therapeutics in the third quarter valued at approximately $10,390,000. Vanguard Group Inc. raised its stake in shares of Avalo Therapeutics by 314.9% in the third quarter. Vanguard Group Inc. now owns 692,637 shares of the company's stock valued at $8,803,000 after acquiring an additional 525,696 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Avalo Therapeutics by 380.2% in the 4th quarter. Millennium Management LLC now owns 659,979 shares of the company's stock worth $11,985,000 after acquiring an additional 522,548 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Avalo Therapeutics in the 4th quarter worth approximately $8,637,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Avalo Therapeutics in a research report on Friday. Piper Sandler reissued an "overweight" rating and issued a $60.00 price objective (up from $48.00) on shares of Avalo Therapeutics in a research note on Monday, May 11th. Mizuho increased their target price on Avalo Therapeutics from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Wolfe Research began coverage on Avalo Therapeutics in a report on Thursday, April 9th. They set an "outperform" rating and a $48.00 target price on the stock. Finally, Leerink Partners started coverage on Avalo Therapeutics in a research note on Monday, July 6th. They issued an "outperform" rating and a $38.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $45.80.

Insider Activity

In other news, CFO Christopher Ryan Sullivan sold 8,458 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $13.09, for a total value of $110,715.22. Following the transaction, the chief financial officer owned 8,880 shares of the company's stock, valued at approximately $116,239.20. This trade represents a 48.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Varki sold 75,063 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $20.17, for a total transaction of $1,514,020.71. Following the sale, the insider directly owned 3,634 shares of the company's stock, valued at approximately $73,297.78. This trade represents a 95.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 93,428 shares of company stock valued at $1,762,722. 4.46% of the stock is currently owned by insiders.

Avalo Therapeutics Price Performance

Shares of AVTX opened at $18.44 on Monday. Avalo Therapeutics, Inc. has a 12-month low of $6.21 and a 12-month high of $24.27. The firm has a market capitalization of $975.48 million, a PE ratio of -3.38 and a beta of 0.78. The stock's fifty day simple moving average is $16.74 and its 200-day simple moving average is $16.12.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.98) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.02. Analysts anticipate that Avalo Therapeutics, Inc. will post -2.58 EPS for the current year.

About Avalo Therapeutics

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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