Avalyn Pharma (NASDAQ:AVLN) Posts Earnings Results

Avalyn Pharma (NASDAQ:AVLN) posted its earnings results on Thursday. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.03), reports.

Avalyn Pharma Stock Performance

Shares of AVLN traded down $1.65 during mid-day trading on Thursday, reaching $29.97. The company had a trading volume of 249,052 shares, compared to its average volume of 339,346. The company has a debt-to-equity ratio of 0.04, a current ratio of 33.12 and a quick ratio of 33.12. The stock’s 50-day moving average is $28.87. Avalyn Pharma has a 52 week low of $22.24 and a 52 week high of $40.17. The stock has a market capitalization of $1.33 billion and a P/E ratio of -1.31.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AVLN shares. Morgan Stanley lifted their price target on Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Raymond James Financial started coverage on Avalyn Pharma in a report on Friday, October 2nd. They issued an “outperform” rating and a $60.00 price objective for the company. Wall Street Zen lowered Avalyn Pharma from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Avalyn Pharma in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Avalyn Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Insiders Place Their Bets

In related news, insider Fmr Llc sold 175,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $29.07, for a total transaction of $5,087,250.00. Following the completion of the transaction, the insider owned 2,109,535 shares of the company’s stock, valued at $61,324,182.45. This trade represents a 7.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AVLN. Montanova Capital LLC bought a new stake in Avalyn Pharma in the second quarter worth $82,402,000. Braidwell LP purchased a new position in shares of Avalyn Pharma in the 2nd quarter worth about $26,382,000. State Street Corp raised its position in shares of Avalyn Pharma by 73.7% in the 3rd quarter. State Street Corp now owns 554,004 shares of the company’s stock worth $15,784,000 after purchasing an additional 235,009 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Avalyn Pharma in the 2nd quarter worth about $1,321,000. Finally, Profund Advisors LLC bought a new position in Avalyn Pharma in the 3rd quarter worth about $668,000.

About Avalyn Pharma

Avalyn Pharma is a clinical-stage biopharmaceutical company developing inhaled treatments for pulmonary fibrosis, including idiopathic pulmonary fibrosis and other progressive fibrotic lung diseases. Its approach is designed to deliver medicine directly to the lungs. The company’s pipeline includes AP01, an investigational inhaled formulation of pirfenidone, and AP02, an investigational inhaled formulation of nintedanib. Both medicines are based on drugs used in oral form for pulmonary fibrosis, but Avalyn’s inhaled candidates are being studied as potential alternatives to oral treatment.