Avalo Therapeutics, Inc. (NASDAQ:AVTX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Avalo Therapeutics, Inc. (NASDAQ:AVTX) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.10.

A number of equities analysts recently weighed in on the stock. 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. Wall Street Zen downgraded Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. HC Wainwright reissued a “buy” rating on shares of Avalo Therapeutics in a research note on Friday. Leerink Partners began coverage on Avalo Therapeutics in a report on Monday, July 6th. They issued an “outperform” rating and a $38.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th.

Avalo Therapeutics Stock Performance

AVTX opened at $12.36 on Wednesday. The company has a fifty day moving average price of $16.69 and a two-hundred day moving average price of $16.79. The firm has a market capitalization of $662.87 million, a PE ratio of -2.83 and a beta of 0.68. Avalo Therapeutics has a 52 week low of $11.21 and a 52 week high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). Equities analysts forecast that Avalo Therapeutics will post -2.80 EPS for the current year.

Insider Buying and Selling at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the completion of the transaction, the chief financial officer owned 39,900 shares of the company’s stock, valued at $651,567. This trade represents a 23.70% decrease in their position. The sale 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 24,258 shares of company stock valued at $415,434 over the last three months. 4.46% of the stock is currently owned by company insiders.

Institutional Trading of Avalo Therapeutics

A number of hedge funds have recently modified their holdings of AVTX. AlphaCentric Advisors LLC bought a new stake in shares of Avalo Therapeutics during the first quarter worth approximately $174,000. Glenmede Trust Co. NA grew its position in shares of Avalo Therapeutics by 25.8% in the first quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after purchasing an additional 5,280 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Avalo Therapeutics in the first quarter valued at approximately $607,000. Sei Investments Co. acquired a new position in shares of Avalo Therapeutics in the first quarter valued at approximately $849,000. Finally, Renaissance Technologies LLC increased its stake 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 worth $1,793,000 after purchasing an additional 101,814 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

About Avalo Therapeutics

Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research strategy centers on addressing conditions in which abnormal immune-system activity contributes to inflammation and tissue damage.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to neutralize interleukin-1 beta, a pro-inflammatory cytokine involved in several inflammatory disorders. The company is evaluating AVTX-009 in clinical development for hidradenitis suppurativa, a chronic inflammatory skin condition, and may pursue additional indications in which interleukin-1 beta plays a role.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name as it shifted its strategic focus toward immunology and inflammation.