Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Significant Increase in Short Interest

Key Points

• Avalo Therapeutics experienced a significant increase in short interest, rising by 117.3% in August, totaling 90,200 shares as of August 15th.
• The company's stock reported a loss of ($1.92) per share in the latest quarterly earnings, missing analysts' expectations by ($0.49).
• Research firms have given Avalo Therapeutics a consensus rating of "Buy" with a target price of $30.00 following upgrades from several analysts.

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 90,200 shares, an increase of 117.3% from the July 31st total of 41,500 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily volume of 180,700 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 180,700 shares, the short-interest ratio is currently 0.5 days. Approximately 0.9% of the company's shares are sold short.

Institutional Investors Weigh In On Avalo Therapeutics

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Avalo Therapeutics by 998.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company's stock worth $31,000 after buying an additional 3,754 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Avalo Therapeutics during the first quarter valued at about $80,000. Quadrature Capital Ltd purchased a new stake in shares of Avalo Therapeutics during the second quarter worth about $55,000. Boothbay Fund Management LLC acquired a new position in shares of Avalo Therapeutics in the second quarter worth about $56,000. Finally, Northern Trust Corp acquired a new position in shares of Avalo Therapeutics in the fourth quarter worth about $168,000. 87.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVTX has been the subject of a number of research analyst reports. Cowen assumed coverage on Avalo Therapeutics in a report on Friday, September 5th. They set a "buy" rating for the company. TD Cowen began coverage on Avalo Therapeutics in a research report on Friday, September 5th. They set a "buy" rating for the company. HC Wainwright upgraded Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a research note on Monday, June 2nd. Finally, Cantor Fitzgerald assumed coverage on Avalo Therapeutics in a research note on Friday, August 15th. They issued an "overweight" rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Avalo Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $30.00.

Avalo Therapeutics Price Performance

Shares of NASDAQ AVTX traded down $0.59 on Wednesday, hitting $11.02. The company had a trading volume of 110,563 shares, compared to its average volume of 204,232. Avalo Therapeutics has a 12-month low of $3.39 and a 12-month high of $16.00. The business has a 50 day moving average of $7.92 and a two-hundred day moving average of $6.32.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.43) by ($0.49). On average, equities analysts anticipate that Avalo Therapeutics will post -19.07 EPS for the current fiscal year.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.