Avalo Therapeutics (NASDAQ:AVTX) Stock Price Target Cut by BTIG Research

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

Other analysts have also recently issued reports about the company. HC Wainwright reissued a “neutral” rating on shares of Avalo Therapeutics in a research report on Friday. Wall Street Zen cut shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Weiss Ratings upgraded Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Guggenheim restated a “neutral” rating on shares of Avalo Therapeutics in a research note on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Avalo Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Avalo Therapeutics Price Performance

Shares of NASDAQ:AVTX traded down $0.16 during midday trading on Friday, reaching $6.77. 2,368,476 shares of the company’s stock were exchanged, compared to its average volume of 1,293,483. The stock has a market cap of $363.08 million, a price-to-earnings ratio of -1.55 and a beta of 0.68. The firm’s 50 day simple moving average is $16.05 and its two-hundred day simple moving average is $16.61. Avalo Therapeutics has a fifty-two week low of $6.53 and a fifty-two week high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last released its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). Equities research analysts predict that Avalo Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 23,258 shares of company stock worth $395,434. 4.46% of the stock is currently owned by company insiders.

Institutional Trading of Avalo Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Braidwell LP bought a new stake in Avalo Therapeutics during the 2nd quarter valued at $30,107,000. Affinity Asset Advisors LLC grew its holdings in shares of Avalo Therapeutics by 27.6% during the first quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company’s stock valued at $20,019,000 after buying an additional 289,786 shares in the last quarter. Seven Fleet Capital Management LP lifted its position 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 worth $14,244,000 after purchasing an additional 196,882 shares in the last quarter. Squarepoint Ops LLC increased its stake in Avalo Therapeutics by 624.9% in the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock valued at $10,889,000 after buying an additional 507,960 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Avalo Therapeutics by 3.5% during the 1st quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock valued at $9,600,000 after buying an additional 21,650 shares during the period. Institutional investors own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

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.