Avalyn Pharma (NASDAQ:AVLN) Stock Falls 9.2% – Here’s Why

Avalyn Pharma Inc. (NASDAQ:AVLN) shares fell 9.2% during mid-day trading on Wednesday. The stock traded as low as $29.14 and last traded at $29.47. Approximately 130,560 shares traded hands during trading, a decline of 58% from the average daily volume of 312,908 shares. The stock had previously closed at $32.45.

Wall Street Analyst Weigh In

AVLN has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on shares of Avalyn Pharma from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Weiss Ratings started coverage on shares of Avalyn Pharma in a research note on Thursday, August 13th. They set a “sell (d+)” rating on the stock. Finally, Wall Street Zen cut shares of Avalyn Pharma from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Two equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Avalyn Pharma Stock Down 0.1%

The stock’s 50-day moving average is $33.59. The company has a current ratio of 33.12, a quick ratio of 33.12 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.26 billion and a PE ratio of -1.25.

Avalyn Pharma (NASDAQ:AVLN) last posted 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. On average, equities analysts anticipate that Avalyn Pharma Inc. will post -3.81 EPS for the current year.

Institutional Investors Weigh In On Avalyn Pharma

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