Avalo Therapeutics (NASDAQ:AVTX) Stock Price Target Lowered at Wedbush

Avalo Therapeutics (NASDAQ:AVTX) had its price target trimmed by Wedbush from $22.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on AVTX. Weiss Ratings raised shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. HC Wainwright cut Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, October 23rd. Oppenheimer set a $16.00 price target on Avalo Therapeutics in a report on Monday, October 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Finally, Guggenheim cut Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.82.

Avalo Therapeutics Stock Performance

Avalo Therapeutics stock traded up $0.30 during midday trading on Friday, hitting $6.93. 1,112,295 shares of the company’s stock were exchanged, compared to its average volume of 2,849,098. The company has a market cap of $371.66 million, a PE ratio of -2.75 and a beta of 0.75. The firm has a 50-day moving average of $13.48 and a two-hundred day moving average of $15.84. Avalo Therapeutics has a 12 month low of $6.53 and a 12 month high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.25. As a group, equities analysts expect that Avalo Therapeutics will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In related 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 $651,567. This represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,258 shares of company stock worth $395,434 over the last three months. Corporate insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Braidwell LP acquired a new position in shares of Avalo Therapeutics during the second quarter worth $30,107,000. Affinity Asset Advisors LLC boosted its position in shares of Avalo Therapeutics by 27.6% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company’s stock worth $20,019,000 after purchasing an additional 289,786 shares in the last quarter. Seven Fleet Capital Management LP boosted its position in shares of Avalo Therapeutics by 34.3% in the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock worth $14,244,000 after purchasing an additional 196,882 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Avalo Therapeutics by 3.5% in the 1st quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock worth $9,600,000 after purchasing an additional 21,650 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Avalo Therapeutics by 624.9% during the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock worth $10,889,000 after buying an additional 507,960 shares during the last quarter. 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.