Short Interest in Avalo Therapeutics, Inc. (NASDAQ:AVTX) Grows By 340.4%

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 22,900 shares, a growth of 340.4% from the November 30th total of 5,200 shares. Based on an average daily trading volume, of 74,100 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVTX. BTIG Research began coverage on shares of Avalo Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright assumed coverage on Avalo Therapeutics in a research note on Thursday, October 24th. They issued a “neutral” rating on the stock.

Avalo Therapeutics Price Performance

Shares of AVTX traded down $0.76 during mid-day trading on Friday, hitting $8.33. 102,750 shares of the company’s stock traded hands, compared to its average volume of 203,822. The business’s 50-day moving average price is $11.05 and its 200-day moving average price is $10.68. Avalo Therapeutics has a 1 year low of $3.95 and a 1 year high of $34.46.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC boosted its stake in shares of Avalo Therapeutics by 350.0% during the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock valued at $561,000 after purchasing an additional 35,000 shares in the last quarter. Logos Global Management LP bought a new position in Avalo Therapeutics in the second quarter worth about $6,722,000. RA Capital Management L.P. purchased a new stake in Avalo Therapeutics in the third quarter worth about $9,186,000. Finally, Ikarian Capital LLC boosted its position in Avalo Therapeutics by 1,673.0% during the 3rd quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock valued at $9,218,000 after acquiring an additional 915,629 shares in the last quarter. 87.06% of the stock is currently owned by institutional investors.

About Avalo Therapeutics

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.