Avalo Therapeutics (NASDAQ:AVTX) Stock Gets Price Target Reduction from BTIG Research

Avalo Therapeutics (NASDAQ:AVTX) had its target price cut by BTIG Research to $10.00 in a research report issued on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. BTIG Research‘s target price would indicate a potential upside of 44.30% from the stock’s current price.

Several other brokerages also recently issued reports on AVTX. HC Wainwright reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Avalo Therapeutics in a report on Wednesday, September 16th. Guggenheim reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Wall Street Zen downgraded shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Finally, Weiss Ratings raised shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.10.

Avalo Therapeutics Stock Down 7.0%

AVTX traded down $0.52 on Friday, reaching $6.93. The company had a trading volume of 4,548,445 shares, compared to its average volume of 1,288,191. Avalo Therapeutics has a 1 year low of $6.53 and a 1 year high of $24.27. The stock has a market capitalization of $371.66 million, a PE ratio of -1.59 and a beta of 0.68. The stock has a 50-day moving average price of $16.30 and a 200-day moving average price of $16.67.

Avalo Therapeutics (NASDAQ:AVTX) last announced its earnings results on Thursday, August 6th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). As a group, analysts expect that Avalo Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were 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 directly owned 39,900 shares of the company’s stock, valued at $651,567. This trade represents a 23.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 24,258 shares of company stock worth $415,434. 4.46% of the stock is currently owned by company insiders.

Institutional Trading of Avalo Therapeutics

Several hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its position in Avalo Therapeutics by 624.9% in the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock valued at $10,889,000 after purchasing an additional 507,960 shares during the last quarter. Seven Fleet Capital Management LP lifted its position in Avalo Therapeutics by 34.3% in the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock valued at $14,244,000 after purchasing an additional 196,882 shares during the last quarter. Braidwell LP bought a new stake in Avalo Therapeutics in the 2nd quarter valued at about $30,107,000. Wellington Management Group LLP acquired a new position in Avalo Therapeutics during the 2nd quarter valued at about $1,945,000. Finally, Bank of New York Mellon Corp acquired a new position in Avalo Therapeutics during the 2nd quarter valued at about $1,897,000. 87.06% of the stock is currently owned by institutional investors.

Key Avalo Therapeutics News

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

• Positive Sentiment: Some analysts still see substantial upside. BTIG Research maintained a “buy” rating while setting a $10 price target, and Wedbush retained its “outperform” rating with a $22 target. Those targets imply meaningful potential appreciation from the recent trading level. BTIG Research recommendations Wedbush price target update
• Neutral Sentiment: Mixed analyst views remain. Guggenheim reaffirmed its “neutral” rating, while Wedbush’s decision to remain bullish provides some support despite its lower target. Guggenheim recommendations
• Neutral Sentiment: Trading was briefly halted under a limit-up/limit-down, or LULD, pause. The halt reflects heightened volatility but does not itself indicate a fundamental change in Avalo’s business.
• Negative Sentiment: AbbVie’s positive Phase 3 HS data appears to have weakened Avalo’s competitive position. Investors may view AbbVie’s results as increasing competition and reducing the perceived commercial opportunity for Avalo’s lead asset, resulting in selling pressure. AbbVie Phase 3 data article
• Negative Sentiment: Analyst sentiment has deteriorated. HC Wainwright downgraded Avalo from “buy” to “neutral,” while Wedbush reduced its price target from $34 to $22 despite keeping an “outperform” rating. The target reduction signals greater near-term uncertainty. HC Wainwright downgrade

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.