Avalyn Pharma (NASDAQ:AVLN) Shares Down 8.9% – What’s Next?

Avalyn Pharma Inc. (NASDAQ:AVLN)’s stock price traded down 8.9% during trading on Wednesday . The company traded as low as $29.98 and last traded at $30.00. Approximately 157,548 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 406,484 shares. The stock had previously closed at $32.92.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AVLN. Guggenheim started coverage on shares of Avalyn Pharma in a report on Monday, May 25th. They set a “buy” rating and a $80.00 price objective for the company. Wall Street Zen upgraded shares of Avalyn Pharma to a “hold” rating in a report on Saturday, May 9th. Jefferies Financial Group began coverage on Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $52.00 price target on the stock. Morgan Stanley began coverage on Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price objective on the stock. Finally, Zacks Research upgraded Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $59.00.

Avalyn Pharma Stock Down 8.5%

The firm has a fifty day simple moving average of $28.92.

Avalyn Pharma (NASDAQ:AVLN) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($21.83) EPS for the quarter, missing analysts’ consensus estimates of ($16.38) by ($5.45).

Insider Activity at Avalyn Pharma

In other Avalyn Pharma news, Director Jill Carroll purchased 277,778 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $18.00 per share, for a total transaction of $5,000,004.00. Following the transaction, the director owned 2,186,562 shares in the company, valued at $39,358,116. The trade was a 14.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $18.00 per share, with a total value of $9,999,990.00. Following the completion of the acquisition, the insider directly owned 2,186,562 shares in the company, valued at $39,358,116. The trade was a 34.06% increase in their position. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.