Avalyn Pharma (NASDAQ:AVLN) Stock: Insider Fmr Llc Sells 175,000 Shares

Key Points

• FMR LLC sold 175,000 Avalyn Pharma shares for about $5.09 million at an average price of $29.07, reducing its stake by 7.66%; it retained 2,109,535 shares. It also sold another 53,454 shares the following day.
• Avalyn reported a quarterly loss of $0.67 per share, missing analyst expectations of a $0.64 loss. Analysts forecast a full-year loss of $3.86 per share.
• Analyst views are mixed, but Avalyn has a consensus “Moderate Buy” rating and a $60 average price target; shares were recently trading at $30.49.

Avalyn Pharma Inc. (NASDAQ:AVLN - Get Free Report) insider Fmr Llc sold 175,000 shares of the firm's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $29.07, for a total value of $5,087,250.00. Following the completion of the sale, the insider directly owned 2,109,535 shares of the company's stock, valued at $61,324,182.45. The trade was a 7.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fmr Llc also recently made the following trade(s):

• On Tuesday, November 10th, Fmr Llc sold 53,454 shares of Avalyn Pharma stock. The stock was sold at an average price of $30.21, for a total value of $1,614,845.34.

Avalyn Pharma Price Performance

NASDAQ AVLN traded down $1.13 during trading hours on Thursday, reaching $30.49. 185,254 shares of the company's stock traded hands, compared to its average volume of 338,945. Avalyn Pharma Inc. has a 52-week low of $22.24 and a 52-week high of $40.17. The company has a current ratio of 33.12, a quick ratio of 33.12 and a debt-to-equity ratio of 0.04. The business's 50-day simple moving average is $28.87. The company has a market cap of $1.35 billion and a price-to-earnings ratio of -1.34.

Avalyn Pharma (NASDAQ:AVLN - Get Free Report) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.03). Sell-side analysts forecast that Avalyn Pharma Inc. will post -3.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on AVLN. Morgan Stanley increased their target price on shares of Avalyn Pharma from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Wall Street Zen lowered shares of Avalyn Pharma from a "hold" rating to a "sell" rating in a research report on Sunday, September 20th. Weiss Ratings reissued a "sell (d+)" rating on shares of Avalyn Pharma in a research note on Wednesday. Finally, Raymond James Financial started coverage on shares of Avalyn Pharma in a research report on Friday, October 2nd. They set an "outperform" rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Avalyn Pharma has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Hedge Funds Weigh In On Avalyn Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in shares of Avalyn Pharma by 73.7% in the third quarter. State Street Corp now owns 554,004 shares of the company's stock valued at $15,784,000 after acquiring an additional 235,009 shares during the period. Profund Advisors LLC bought a new position in Avalyn Pharma during the 3rd quarter valued at about $668,000. China Universal Asset Management Co. Ltd. bought a new position in Avalyn Pharma during the 3rd quarter valued at about $29,000. Manchester Capital Management LLC purchased a new stake in Avalyn Pharma in the 3rd quarter worth about $36,000. Finally, Braidwell LP purchased a new stake in Avalyn Pharma in the 2nd quarter worth about $26,382,000.

About Avalyn Pharma

Avalyn Pharma is a clinical-stage biopharmaceutical company developing inhaled treatments for pulmonary fibrosis, including idiopathic pulmonary fibrosis and other progressive fibrotic lung diseases. Its approach is designed to deliver medicine directly to the lungs. The company's pipeline includes AP01, an investigational inhaled formulation of pirfenidone, and AP02, an investigational inhaled formulation of nintedanib. Both medicines are based on drugs used in oral form for pulmonary fibrosis, but Avalyn's inhaled candidates are being studied as potential alternatives to oral treatment.

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