Avalo Therapeutics (NASDAQ:AVTX) Releases Earnings Results

Avalo Therapeutics (NASDAQ:AVTX) announced its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.25, FiscalAI reports.

Avalo Therapeutics Trading Up 4.5%

Shares of AVTX traded up $0.30 during trading hours on Friday, reaching $6.93. The company had a trading volume of 1,112,295 shares, compared to its average volume of 2,849,098. The firm has a 50 day simple moving average of $13.48 and a 200-day simple moving average of $15.84. The company has a market capitalization of $371.66 million, a price-to-earnings ratio of -2.75 and a beta of 0.75. Avalo Therapeutics has a 12-month low of $6.53 and a 12-month high of $24.27.

Insider Buying and Selling at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total transaction of $202,394.02. Following the completion of the transaction, the chief financial officer owned 39,900 shares of the company’s stock, valued at $651,567. The trade was a 23.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,258 shares of company stock valued at $395,434 in the last three months. Company insiders own 4.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AVTX shares. Wedbush lowered their target price on shares of Avalo Therapeutics from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday. Guggenheim cut Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. BTIG Research decreased their price target on Avalo Therapeutics to $10.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Avalo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.82.

Avalo Therapeutics Company Profile

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.