Avalo Therapeutics (NASDAQ:AVTX) Releases Earnings Results

Avalo Therapeutics (NASDAQ:AVTX) announced its quarterly earnings data on Thursday. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.25), FiscalAI reports.

Avalo Therapeutics Price Performance

Avalo Therapeutics stock opened at $18.70 on Friday. The company has a market capitalization of $989.23 million, a PE ratio of -3.42 and a beta of 0.80. Avalo Therapeutics has a one year low of $8.01 and a one year high of $24.27. The business has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $16.27.

Insider Buying and Selling

In other Avalo Therapeutics news, insider Mittie Doyle sold 1,450 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $18.00, for a total value of $26,100.00. Following the sale, the insider directly owned 51,776 shares in the company, valued at $931,968. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Avalo Therapeutics by 2.5% in the second quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock valued at $552,000 after acquiring an additional 2,648 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Avalo Therapeutics in the third quarter worth $143,000. Boothbay Fund Management LLC bought a new stake in shares of Avalo Therapeutics during the second quarter worth $56,000. Jump Financial LLC bought a new stake in shares of Avalo Therapeutics during the fourth quarter worth $238,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Avalo Therapeutics in the fourth quarter valued at $274,000. 87.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVTX has been the subject of several research reports. Citigroup reaffirmed an “outperform” rating on shares of Avalo Therapeutics in a research report on Wednesday, May 6th. Wolfe Research initiated coverage on shares of Avalo Therapeutics in a research note on Thursday, April 9th. They issued an “outperform” rating and a $48.00 price objective for the company. Weiss Ratings downgraded shares of Avalo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Bank of America started coverage on shares of Avalo Therapeutics in a report on Friday, June 12th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $60.00 target price (up from $48.00) on shares of Avalo Therapeutics in a research report on Monday, May 11th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.30.

About Avalo Therapeutics

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.