Avalyn Pharma (NASDAQ:AVLN) Stock Jumps 6.4% - Here's What Happened

Key Points

• Avalyn Pharma shares rose 6.4% to $28.84, giving the company a market capitalization of approximately $1.28 billion, though trading volume was 48% below its average.
• Analyst sentiment is mixed: Morgan Stanley raised its price target to $57 with an “overweight” rating, while other firms issued or downgraded the stock to “sell.” Overall, analysts maintain a “Moderate Buy” consensus with an average target of $60.
• Avalyn reported quarterly EPS of negative $0.98, beating estimates of negative $1.03. The clinical-stage biotech is developing inhaled therapies for serious pulmonary diseases, including its lead idiopathic pulmonary fibrosis program, AP01.

Avalyn Pharma Inc. (NASDAQ:AVLN - Get Free Report) shares were up 6.4% on Wednesday. The stock traded as high as $28.87 and last traded at $28.84. 160,187 shares changed hands during trading, a decline of 48% from the average daily volume of 310,942 shares. The stock had previously closed at $27.10.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Morgan Stanley upped their price objective on 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 initiated coverage on Avalyn Pharma in a research note on Thursday, August 13th. They issued a "sell (d+)" rating on the stock. Finally, Wall Street Zen lowered Avalyn Pharma from a "hold" rating to a "sell" rating in a report on Sunday, September 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Avalyn Pharma Trading Up 6.4%

The stock has a market cap of $1.28 billion and a P/E ratio of -1.26. The company has a 50 day simple moving average of $33.54. The company has a current ratio of 33.12, a quick ratio of 33.12 and a debt-to-equity ratio of 0.04.

Avalyn Pharma (NASDAQ:AVLN - Get Free Report) last issued its quarterly 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. Sell-side analysts predict that Avalyn Pharma Inc. will post -3.81 earnings per share for the current year.

Hedge Funds Weigh In On Avalyn Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Montanova Capital LLC purchased a new position in shares of Avalyn Pharma during the 2nd quarter worth approximately $82,402,000. Braidwell LP acquired a new position in Avalyn Pharma during the second quarter worth $26,382,000. State Street Corp acquired a new position in Avalyn Pharma during the second quarter worth $10,501,000. Finally, Bank of New York Mellon Corp purchased a new position in Avalyn Pharma in the second quarter worth $1,321,000.

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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