Avalyn Pharma (NASDAQ:AVLN) Shares Down 4.4% - Here's What Happened

Key Points

• Avalyn Pharma shares fell 4.4% to $33.20 in thin trading, with volume down 86% from the average session.
• Analyst views remain mixed, but the stock carries a consensus “Moderate Buy” rating and a $60 average price target, well above its current price.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $0.98 per share, beating estimates, while major investors including Montanova Capital and Braidwell initiated positions.

Avalyn Pharma Inc. (NASDAQ:AVLN - Get Free Report) shares were down 4.4% during trading on Thursday . The company traded as low as $33.20 and last traded at $33.20. Approximately 42,641 shares were traded during mid-day trading, a decline of 86% from the average session volume of 310,610 shares. The stock had previously closed at $34.71.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research upgraded Avalyn Pharma to a "hold" rating in a research note on Wednesday, May 27th. Guggenheim assumed coverage on Avalyn Pharma in a research report on Monday, May 25th. They set a "buy" rating and a $80.00 price objective for the company. Weiss Ratings initiated coverage on Avalyn Pharma in a research note on Thursday, August 13th. They set a "sell (d+)" rating for the company. Morgan Stanley lifted their target price on Avalyn Pharma from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Finally, Evercore initiated coverage on shares of Avalyn Pharma in a research note on Tuesday, May 26th. They set an "outperform" rating and a $51.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Avalyn Pharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Avalyn Pharma Stock Performance

The firm has a market capitalization of $1.47 billion and a price-to-earnings ratio of -1.45. The firm's 50 day simple moving average is $33.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12.

Avalyn Pharma (NASDAQ:AVLN - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.03) by $0.05. As a group, research analysts predict that Avalyn Pharma Inc. will post -3.81 EPS for the current year.

Hedge Funds Weigh In On Avalyn Pharma

Several large investors have recently bought and sold shares of AVLN. Bank of New York Mellon Corp bought a new position in Avalyn Pharma during the second quarter valued at about $1,321,000. Braidwell LP bought a new position in shares of Avalyn Pharma during the second quarter valued at $26,382,000. Finally, Montanova Capital LLC acquired a new position in Avalyn Pharma in the second quarter valued at about $82,402,000.

Avalyn Pharma Company Profile

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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