Insider Selling: Avalo Therapeutics (NASDAQ:AVTX) CFO Sells 12,394 Shares of Stock

Key Points

• Avalo Therapeutics CFO Christopher Sullivan sold 12,394 shares at an average price of $16.33, totaling $202,394.02, reducing his direct position by 23.7% to 39,900 shares. The sale was conducted under a pre-arranged Rule 10b5-1 plan.
• AVTX shares fell 0.7% to $16.57, while the company reported a quarterly loss of $0.83 per share, missing analyst expectations of a $0.58 loss.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $45.10 average price target, although one research firm downgraded the stock to “sell.” Institutional investors own approximately 87.1% of the company.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) CFO Christopher Sullivan sold 12,394 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total value of $202,394.02. Following the transaction, the chief financial officer directly owned 39,900 shares in the company, valued at $651,567. The trade was a 23.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Ryan Sullivan also recently made the following trade(s):

• On Thursday, September 10th, Christopher Sullivan sold 10,185 shares of Avalo Therapeutics stock. The shares were sold at an average price of $17.62, for a total value of $179,459.70.

Avalo Therapeutics Stock Down 0.7%

NASDAQ:AVTX traded down $0.12 during mid-day trading on Friday, reaching $16.57. The company's stock had a trading volume of 3,233,361 shares, compared to its average volume of 1,154,871. Avalo Therapeutics, Inc. has a 1 year low of $10.70 and a 1 year high of $24.27. The stock has a fifty day moving average of $18.81 and a 200-day moving average of $17.05. The firm has a market capitalization of $888.65 million, a PE ratio of -3.79 and a beta of 0.78.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, analysts expect that Avalo Therapeutics, Inc. will post -2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVTX. Cantor Fitzgerald reissued an "overweight" rating on shares of Avalo Therapeutics in a report on Wednesday. Wall Street Zen cut Avalo Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Leerink Partners began coverage on Avalo Therapeutics in a report on Monday, July 6th. They issued an "outperform" rating and a $38.00 price target on the stock. Bank of America initiated coverage on Avalo Therapeutics in a research note on Friday, June 12th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Avalo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.10.

Institutional Trading of Avalo Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Braidwell LP purchased a new stake in Avalo Therapeutics in the second quarter valued at about $30,107,000. Affinity Asset Advisors LLC grew its stake in shares of Avalo Therapeutics by 27.6% during the first quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company's stock worth $20,019,000 after acquiring an additional 289,786 shares during the last quarter. Seven Fleet Capital Management LP grew its stake in shares of Avalo Therapeutics by 34.3% during the second quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company's stock worth $14,244,000 after acquiring an additional 196,882 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Avalo Therapeutics by 624.9% during the second quarter. Squarepoint Ops LLC now owns 589,245 shares of the company's stock valued at $10,889,000 after acquiring an additional 507,960 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Avalo Therapeutics by 3.5% during the first quarter. Bank of America Corp DE now owns 643,000 shares of the company's stock valued at $9,600,000 after acquiring an additional 21,650 shares in the last quarter. Hedge funds and other institutional investors own 87.06% of the company's stock.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated and inflammatory diseases. The company's research strategy centers on treatments intended to address conditions in which abnormal immune system activity contributes to disease progression.

Avalo's lead product candidate is AVTX-009, an investigational fully human monoclonal antibody designed to inhibit interleukin-1 beta (IL-1β), a signaling protein involved in inflammation.

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