Avalo Therapeutics (NASDAQ:AVTX) Given New $10.00 Price Target at BTIG Research

Avalo Therapeutics (NASDAQ:AVTX) had its target price cut by equities research analysts at BTIG Research to $10.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price objective points to a potential upside of 46.01% from the stock’s previous close.

A number of other equities analysts also recently commented on AVTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Wall Street Zen downgraded shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings raised shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Leerink Partners assumed coverage on shares of Avalo Therapeutics in a research note on Monday, July 6th. They set an “outperform” rating and a $38.00 target price on the stock. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.10.

Avalo Therapeutics Stock Performance

Shares of NASDAQ:AVTX traded down $0.60 during midday trading on Friday, hitting $6.85. The company’s stock had a trading volume of 3,350,431 shares, compared to its average volume of 1,281,034. The business’s 50 day simple moving average is $16.30 and its 200 day simple moving average is $16.67. The company has a market cap of $367.31 million, a P/E ratio of -1.57 and a beta of 0.68. Avalo Therapeutics has a 12-month low of $6.53 and a 12-month high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, sell-side analysts predict that Avalo Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total transaction of $202,394.02. Following the transaction, the chief financial officer directly owned 39,900 shares of the company’s stock, valued at $651,567. The trade was a 23.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 24,258 shares of company stock worth $415,434 over the last quarter. 4.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Avalo Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AVTX. AlphaCentric Advisors LLC purchased a new stake in shares of Avalo Therapeutics in the 1st quarter valued at approximately $174,000. Glenmede Trust Co. NA raised its stake in shares of Avalo Therapeutics by 25.8% in the 1st quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after acquiring an additional 5,280 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Avalo Therapeutics in the 1st quarter valued at approximately $607,000. Sei Investments Co. purchased a new stake in shares of Avalo Therapeutics in the 1st quarter valued at approximately $849,000. Finally, Renaissance Technologies LLC raised its stake in shares of Avalo Therapeutics by 556.4% in the 1st quarter. Renaissance Technologies LLC now owns 120,114 shares of the company’s stock valued at $1,793,000 after acquiring an additional 101,814 shares during the period. 87.06% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Avalo Therapeutics

Here are the key news stories impacting Avalo Therapeutics this week:

• Positive Sentiment: Wedbush maintained an “outperform” rating, although it reduced its price target from $34 to $22. The revised target still implies substantial potential upside from recent trading levels. Wedbush adjusts Avalo Therapeutics price target
• Positive Sentiment: BTIG Research lowered its price target to $10 but retained a “buy” rating, indicating that the firm still sees meaningful value despite reducing its assumptions. BTIG Research recommendations
• Neutral Sentiment: Guggenheim and HC Wainwright reaffirmed “neutral” ratings, signaling limited conviction while investors assess Avalo’s clinical and competitive outlook. Guggenheim recommendations
• Negative Sentiment: HC Wainwright downgraded Avalo from “buy” to “neutral,” removing a bullish endorsement and contributing to the stock’s decline. HC Wainwright downgrades Avalo Therapeutics
• Negative Sentiment: AbbVie’s phase III hidradenitis suppurativa data heightened concerns about competitive pressure on Avalo’s pipeline, a key reason investors sold the shares. AbbVie phase III data subdue Avalo shares
• Negative Sentiment: Multiple price targets were cut even when ratings remained positive, suggesting analysts are becoming more cautious about Avalo’s valuation and execution prospects. Trading was also briefly halted under a volatility-related LULD pause.

About Avalo Therapeutics

Avalo Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research and development programs are intended to address conditions with significant unmet medical needs.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to inhibit interleukin-1 beta, an inflammatory cytokine involved in several immune-related disorders. The candidate is being evaluated for potential treatment of hidradenitis suppurativa, a chronic inflammatory skin disease, and other inflammatory conditions.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name in 2021.