Avalo Therapeutics, Inc. $AVTX Stock: Nan Fung Trinity HK Ltd. Increases Position

Nan Fung Trinity HK Ltd. boosted its holdings in shares of Avalo Therapeutics, Inc. (NASDAQ:AVTX) by 161.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 189,000 shares of the company’s stock after buying an additional 116,700 shares during the quarter. Nan Fung Trinity HK Ltd.’s holdings in Avalo Therapeutics were worth $2,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVTX. Seven Fleet Capital Management LP boosted its holdings in Avalo Therapeutics by 34.3% in the second quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock worth $14,244,000 after acquiring an additional 196,882 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Avalo Therapeutics during the second quarter valued at about $1,945,000. Renaissance Technologies LLC increased its holdings in shares of 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 acquiring an additional 101,814 shares in the last quarter. DV Trading LLC acquired a new position in shares of Avalo Therapeutics during the first quarter valued at about $5,376,000. Finally, Sei Investments Co. acquired a new position in shares of Avalo Therapeutics during the first quarter valued at about $849,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avalo Therapeutics

In related news, CFO Christopher Sullivan sold 12,394 shares of the company’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 value of $202,394.02. Following the sale, the chief financial officer owned 39,900 shares in the company, valued at $651,567. This represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,258 shares of company stock worth $395,434 over the last three months. Insiders own 4.46% of the company’s stock.

Avalo Therapeutics Stock Down 9.5%

Shares of AVTX opened at $7.70 on Friday. The stock has a 50-day moving average of $12.55 and a two-hundred day moving average of $15.68. Avalo Therapeutics, Inc. has a one year low of $6.53 and a one year high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.25. On average, equities analysts expect that Avalo Therapeutics, Inc. will post -2.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVTX. Wall Street Zen raised shares of Avalo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Wedbush dropped their target price on shares of Avalo Therapeutics from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 6th. HC Wainwright lowered shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avalo Therapeutics in a report on Wednesday, November 4th. Finally, Guggenheim cut shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, October 23rd. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.82.

Avalo Therapeutics Company Profile

Avalo Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated and inflammatory diseases. The company does not have marketed products and is centered on advancing drug candidates through clinical development. Its lead candidate, AVTX-009, is a monoclonal antibody that targets interleukin-1 beta (IL-1β), an inflammatory signaling protein. Avalo is developing the therapy for hidradenitis suppurativa, a chronic inflammatory skin disease, and has described potential applications in other inflammatory conditions.