Avalo Therapeutics (NASDAQ:AVTX) Given New $10.00 Price Target at BTIG Research

Avalo Therapeutics (NASDAQ:AVTX) had its price target decreased by investment analysts at BTIG Research to $10.00 in a report issued on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s target price points to a potential upside of 47.71% from the stock’s current price.

A number of other brokerages have also issued reports on AVTX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Leerink Partners assumed coverage on Avalo Therapeutics in a research report on Monday, July 6th. They issued an “outperform” rating and a $38.00 price objective on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Weiss Ratings upgraded Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Guggenheim reissued a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Ten 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.10.

Avalo Therapeutics Price Performance

Shares of AVTX stock traded down $0.16 during trading hours on Friday, reaching $6.77. 2,368,459 shares of the company traded hands, compared to its average volume of 1,290,188. The firm has a 50-day moving average price of $16.05 and a 200 day moving average price of $16.61. The company has a market cap of $363.08 million, a P/E ratio of -1.55 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). Sell-side analysts predict that Avalo Therapeutics will post -2.95 EPS for the current year.

Insider Buying and Selling

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was 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 owned 39,900 shares in the company, valued at $651,567. This trade represents a 23.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 currently owned by corporate insiders.

Institutional Trading of Avalo Therapeutics

Several hedge funds have recently modified their holdings of AVTX. Seven Fleet Capital Management LP grew its holdings in shares of Avalo Therapeutics by 34.3% in the second 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 in the last quarter. Wellington Management Group LLP purchased a new stake in Avalo Therapeutics during the second quarter valued at $1,945,000. Renaissance Technologies LLC raised its stake in Avalo Therapeutics by 556.4% during the first quarter. Renaissance Technologies LLC now owns 120,114 shares of the company’s stock valued at $1,793,000 after purchasing an additional 101,814 shares in the last quarter. DV Trading LLC bought a new position in Avalo Therapeutics during the first quarter valued at $5,376,000. Finally, Sei Investments Co. bought a new position in Avalo Therapeutics during the first quarter valued at $849,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

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.