BTIG Research Has Lowered Expectations for Avalo Therapeutics (NASDAQ:AVTX) Stock Price

Avalo Therapeutics (NASDAQ:AVTX) had its price target decreased by equities researchers at BTIG Research to $10.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price target would suggest a potential upside of 47.71% from the company’s current price.

A number of other brokerages have also recently commented on AVTX. Wall Street Zen cut shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. HC Wainwright reissued a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Guggenheim reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Finally, Leerink Partners started coverage on Avalo Therapeutics in a research report on Monday, July 6th. They set an “outperform” rating and a $38.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Avalo Therapeutics Price Performance

NASDAQ:AVTX traded down $0.16 on Friday, hitting $6.77. 2,368,479 shares of the company’s stock were exchanged, compared to its average volume of 1,293,483. Avalo Therapeutics has a 52 week low of $6.53 and a 52 week high of $24.27. The company has a market cap of $363.08 million, a P/E ratio of -1.55 and a beta of 0.68. The firm has a 50-day moving average price of $16.05 and a 200-day moving average price of $16.61.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.25). On average, research 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 stock in a transaction that occurred 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 sale, the chief financial officer owned 39,900 shares of the company’s stock, valued at approximately $651,567. This represents a 23.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 23,258 shares of company stock worth $395,434. Corporate insiders own 4.46% of the company’s stock.

Institutional Trading of Avalo Therapeutics

Large investors have recently bought and sold shares of the business. Glenmede Trust Co. NA increased its position in Avalo Therapeutics by 25.8% in the 1st quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after buying an additional 5,280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in Avalo Therapeutics during the 1st quarter valued at about $174,000. Bank of America Corp DE boosted its stake in Avalo Therapeutics by 3.5% during the 1st 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 during the last quarter. Dimensional Fund Advisors LP bought a new stake in Avalo Therapeutics during the 1st quarter worth approximately $607,000. Finally, Sei Investments Co. bought a new stake in Avalo Therapeutics during the first quarter worth $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.