BTIG Research Issues Pessimistic Forecast for Avalo Therapeutics (NASDAQ:AVTX) Stock Price

Avalo Therapeutics (NASDAQ:AVTX) had its price objective decreased by stock analysts at BTIG Research to $10.00 in a research report issued on Friday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price objective suggests a potential upside of 48.99% from the company’s current price.

Several other research analysts have also recently issued reports on AVTX. Cantor Fitzgerald reissued an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Wall Street Zen cut shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Leerink Partners began coverage on Avalo Therapeutics in a report on Monday, July 6th. They issued an “outperform” rating and a $38.00 price objective for the company. Guggenheim restated a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Finally, Weiss Ratings upgraded shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Avalo Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $39.10.

Avalo Therapeutics Stock Performance

Avalo Therapeutics stock traded down $0.22 during mid-day trading on Friday, reaching $6.71. The company’s stock had a trading volume of 1,108,675 shares, compared to its average volume of 1,286,618. Avalo Therapeutics has a 12-month low of $6.53 and a 12-month high of $24.27. The company has a market capitalization of $359.96 million, a P/E ratio of -1.54 and a beta of 0.68. The firm’s fifty day moving average price is $16.05 and its two-hundred day moving average price is $16.61.

Avalo Therapeutics (NASDAQ:AVTX) last issued its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, research analysts predict that Avalo Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Avalo Therapeutics

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the company’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 approximately $651,567. This represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,258 shares of company stock worth $395,434 over the last three months. 4.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AVTX. Braidwell LP bought a new stake in Avalo Therapeutics during the second quarter valued at $30,107,000. Affinity Asset Advisors LLC lifted its position in shares of Avalo Therapeutics by 27.6% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company’s stock valued at $20,019,000 after acquiring an additional 289,786 shares during the last quarter. Seven Fleet Capital Management LP lifted its stake in Avalo Therapeutics by 34.3% during the second quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock valued at $14,244,000 after buying an additional 196,882 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Avalo Therapeutics by 3.5% in the first quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock valued at $9,600,000 after purchasing an additional 21,650 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Avalo Therapeutics by 624.9% in the second quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock worth $10,889,000 after purchasing an additional 507,960 shares in the last quarter. 87.06% of the stock is 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.