Avalo Therapeutics (NASDAQ:AVTX) Stock Price Target Lowered at BTIG Research

Avalo Therapeutics (NASDAQ:AVTX) had its price objective reduced by analysts at BTIG Research to $10.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. BTIG Research‘s price objective would suggest a potential upside of 48.15% from the stock’s current price.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Avalo Therapeutics in a report on Wednesday, September 16th. HC Wainwright restated a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Guggenheim reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Leerink Partners started coverage on shares of Avalo Therapeutics in a research note on Monday, July 6th. They set an “outperform” rating and a $38.00 price target on the stock. Finally, Wall Street Zen lowered shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Eleven investment 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. Based on data from MarketBeat.com, Avalo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Avalo Therapeutics Stock Down 0.3%

AVTX traded down $0.02 on Friday, hitting $6.75. 2,643,412 shares of the company traded hands, compared to its average volume of 1,300,046. The company has a 50 day moving average of $16.06 and a 200-day moving average of $16.30. The stock has a market capitalization of $362.00 million, a PE ratio of -1.54 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 released its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). On average, research analysts anticipate that Avalo Therapeutics will post -2.95 EPS for the current year.

Insider Activity

In other news, CFO Christopher Sullivan sold 12,394 shares of the business’s 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 in the company, valued at $651,567. The trade was a 23.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,258 shares of company stock worth $395,434 in the last quarter. Insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA raised its position in Avalo Therapeutics by 25.8% during the first quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock worth $384,000 after acquiring an additional 5,280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in Avalo Therapeutics during the first quarter worth about $174,000. Bank of America Corp DE raised its position in Avalo Therapeutics by 3.5% during the first quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock worth $9,600,000 after acquiring an additional 21,650 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Avalo Therapeutics during the first quarter worth about $607,000. Finally, Sei Investments Co. acquired a new position in Avalo Therapeutics during the first quarter worth about $849,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

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.