Avalyn Pharma Inc. (NASDAQ:AVLN) Short Interest Update

Avalyn Pharma Inc. (NASDAQ:AVLN) was the recipient of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 896,139 shares, an increase of 59.3% from the May 14th total of 562,374 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 278,129 shares, the days-to-cover ratio is presently 3.2 days.

Avalyn Pharma Stock Down 0.1%

Shares of AVLN traded down $0.02 during trading hours on Tuesday, hitting $28.73. The stock had a trading volume of 140,780 shares, compared to its average volume of 312,249. Avalyn Pharma has a 52 week low of $24.15 and a 52 week high of $32.22.

Avalyn Pharma (NASDAQ:AVLN) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($21.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($16.38) by ($5.45).

Analyst Upgrades and Downgrades

AVLN has been the subject of several recent research reports. Wall Street Zen raised shares of Avalyn Pharma to a “hold” rating in a research report on Saturday, May 9th. Evercore started coverage on Avalyn Pharma in a report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price objective on the stock. Morgan Stanley initiated coverage on Avalyn Pharma in a report on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 target price for the company. Jefferies Financial Group began coverage on Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $52.00 target price for the company. Finally, Zacks Research raised Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $59.00.

Insiders Place Their Bets

In other Avalyn Pharma news, major shareholder Sr One Capital Management, Llc purchased 555,555 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $18.00 per share, for a total transaction of $9,999,990.00. Following the completion of the purchase, the insider directly owned 2,186,562 shares of the company’s stock, valued at approximately $39,358,116. This represents a 34.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jill Carroll purchased 277,778 shares of the stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $5,000,004.00. Following the acquisition, the director directly owned 2,186,562 shares in the company, valued at approximately $39,358,116. This trade represents a 14.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.