Avalyn Pharma (NASDAQ:AVLN) Share Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• Avalyn Pharma shares edged above their 50-day moving average, trading at $29.15 versus the $29.11 average, on volume of 630,263 shares.
• Analysts’ consensus is “Moderate Buy”, with an average $60 price target; ratings range from Strong Buy to Sell.
• The company reported a quarterly loss of $0.98 per share, slightly better than estimates, while several institutional investors disclosed new positions in the stock.

Avalyn Pharma Inc. (NASDAQ:AVLN - Get Free Report) shares crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $29.11 and traded as high as $29.18. Avalyn Pharma shares last traded at $29.15, with a volume of 630,263 shares traded.

Wall Street Analysts Forecast Growth

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

Avalyn Pharma Stock Performance

The company has a fifty day moving average price of $29.11. 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 stock has a market cap of $1.29 billion and a PE ratio of -1.28.

Avalyn Pharma (NASDAQ:AVLN - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share for the quarter, topping analysts' consensus estimates of ($1.03) by $0.05. Analysts anticipate that Avalyn Pharma Inc. will post -3.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVLN. Montanova Capital LLC acquired a new position in shares of Avalyn Pharma during the second quarter valued at about $82,402,000. Braidwell LP bought a new position in Avalyn Pharma in the 2nd quarter worth about $26,382,000. State Street Corp purchased a new stake in shares of Avalyn Pharma in the second quarter worth about $10,501,000. Bank of New York Mellon Corp purchased a new position in shares of Avalyn Pharma in the second quarter worth about $1,321,000. Finally, Profund Advisors LLC acquired a new position in Avalyn Pharma during the 3rd quarter worth approximately $668,000.

Avalyn Pharma Company Profile

Avalyn Pharma, Inc NASDAQ: AVLN is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with pulmonary fibrosis and other serious respiratory diseases. The company's research is aimed at delivering established antifibrotic medicines directly to the lungs, with the potential to improve treatment effectiveness while reducing systemic exposure and associated side effects.

Avalyn's lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for idiopathic pulmonary fibrosis and progressive pulmonary fibrosis.

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