Avalo Therapeutics (NASDAQ:AVTX) Shares Up 9.6% – Here’s What Happened

Avalo Therapeutics, Inc. (NASDAQ:AVTX)’s stock price traded up 9.6% on Monday . The company traded as high as $15.81 and last traded at $16.1050. 92,993 shares were traded during trading, a decline of 92% from the average session volume of 1,135,265 shares. The stock had previously closed at $14.70.

Analyst Upgrades and Downgrades

AVTX has been the topic of several analyst reports. Citizens Jmp decreased their target price on shares of Avalo Therapeutics from $62.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings raised shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective (up from $48.00) on shares of Avalo Therapeutics in a research report on Monday, May 11th. Bank of America began coverage on shares of Avalo Therapeutics in a research report on Friday, June 12th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Avalo Therapeutics from a “strong sell” rating to a “hold” rating in a report on Sunday, March 29th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Avalo Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $46.67.

Avalo Therapeutics Price Performance

The business has a 50 day moving average of $15.51 and a 200 day moving average of $16.07. The company has a market cap of $881.70 million, a PE ratio of -3.08 and a beta of 0.83.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Sell-side analysts forecast that Avalo Therapeutics, Inc. will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, CFO Christopher Ryan Sullivan sold 8,457 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $13.23, for a total value of $111,886.11. Following the completion of the transaction, the chief financial officer owned 423 shares in the company, valued at $5,596.29. This trade represents a 95.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mittie Doyle sold 3,970 shares of Avalo Therapeutics stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $18.01, for a total value of $71,499.70. Following the sale, the insider owned 3,622 shares in the company, valued at $65,232.22. This represents a 52.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 112,586 shares of company stock valued at $2,089,651. Corporate insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVTX. PFS Partners LLC boosted its holdings in shares of Avalo Therapeutics by 100.0% during the 4th quarter. PFS Partners LLC now owns 2,000 shares of the company’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Avalo Therapeutics in the 2nd quarter worth about $56,000. Dimensional Fund Advisors LP purchased a new position in Avalo Therapeutics during the 3rd quarter valued at about $143,000. AlphaCentric Advisors LLC purchased a new position in Avalo Therapeutics during the 1st quarter valued at about $174,000. Finally, Jump Financial LLC bought a new stake in Avalo Therapeutics during the fourth quarter worth about $238,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

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.