State Street Corp Makes New $10.50 Million Investment in Avalyn Pharma Inc. $AVLN

Key Points

• State Street Corp acquired 318,995 Avalyn Pharma shares worth approximately $10.5 million, representing a 0.72% stake. Other institutional investors, including Montanova Capital and Braidwell, also established new positions during the second quarter.
• Analyst sentiment is mixed but leans positive: Avalyn has a “Moderate Buy” consensus rating and a $60 average price target, despite sell ratings from Wall Street Zen and Weiss Ratings.
• Avalyn shares opened at $28.08, well below their 52-week high of $40.17. The clinical-stage biotech is developing inhaled treatments for pulmonary diseases, led by its AP01 therapy for idiopathic pulmonary fibrosis.

State Street Corp acquired a new stake in Avalyn Pharma Inc. (NASDAQ:AVLN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 318,995 shares of the company's stock, valued at approximately $10,501,000. State Street Corp owned 0.72% of Avalyn Pharma at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Braidwell LP bought a new position in shares of Avalyn Pharma in the 2nd quarter worth $26,382,000. Montanova Capital LLC bought a new stake in Avalyn Pharma during the 2nd quarter valued at $82,402,000. Finally, Bank of New York Mellon Corp bought a new stake in Avalyn Pharma during the 2nd quarter valued at $1,321,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Avalyn Pharma from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th. Morgan Stanley boosted their target price on shares of Avalyn Pharma from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Finally, Weiss Ratings initiated coverage on shares of Avalyn Pharma in a research report on Thursday, August 13th. They issued a "sell (d+)" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Avalyn Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Avalyn Pharma Price Performance

Shares of AVLN opened at $28.08 on Friday. Avalyn Pharma Inc. has a 1 year low of $24.15 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12. The company has a fifty day moving average price of $33.59. The company has a market capitalization of $1.24 billion and a price-to-earnings ratio of -1.23.

Avalyn Pharma (NASDAQ:AVLN - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.05. Sell-side analysts anticipate that Avalyn Pharma Inc. will post -3.81 earnings per share for the current fiscal year.

About Avalyn Pharma

Avalyn Pharma is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious and progressive pulmonary diseases. The company is working to deliver established antifibrotic medicines directly to the lungs through proprietary inhalation technologies, with the goal of improving treatment and potentially reducing systemic exposure and related side effects.

Avalyn's lead program, AP01, is an inhaled formulation of pirfenidone being developed for patients with idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring and declining respiratory function.

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