Short Interest in Avalo Therapeutics, Inc. (NASDAQ:AVTX) Grows By 117.3%

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) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 90,200 shares, agrowthof117.3% from the July 31st total of 41,500 shares. Based on an average daily volume of 180,700 shares, the days-to-cover ratio is currently 0.5 days. Currently,0.9% of the company's stock are short sold. Currently,0.9% of the company's stock are short sold. Based on an average daily volume of 180,700 shares, the days-to-cover ratio is currently 0.5 days.

Avalo Therapeutics Price Performance

AVTX stock opened at $10.16 on Friday. The business's 50-day moving average is $7.40 and its two-hundred day moving average is $6.21. Avalo Therapeutics has a fifty-two week low of $3.39 and a fifty-two week high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.43) by ($0.49). Equities research analysts forecast that Avalo Therapeutics will post -19.07 earnings per share for the current fiscal year.

Institutional Trading of Avalo Therapeutics

Several hedge funds have recently bought and sold shares of AVTX. Geode Capital Management LLC raised its position in shares of Avalo Therapeutics by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company's stock valued at $552,000 after purchasing an additional 2,648 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Avalo Therapeutics by 998.4% in 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 purchased a new stake in Avalo Therapeutics in the 1st quarter worth $80,000. Quadrature Capital Ltd purchased a new stake in Avalo Therapeutics in the 2nd quarter worth $55,000. Finally, Boothbay Fund Management LLC bought a new stake in Avalo Therapeutics during the second quarter valued at about $56,000. Institutional investors own 87.06% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on AVTX. HC Wainwright upgraded Avalo Therapeutics from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a report on Monday, June 2nd. Cantor Fitzgerald began coverage on shares of Avalo Therapeutics in a report on Friday, August 15th. They set an "overweight" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $30.00.

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.

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