Avalo Therapeutics (NASDAQ:AVTX) Earns Buy Rating from Analysts at Bank of America

Equities research analysts at Bank of America started coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 156.04% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of Avalo Therapeutics in a research note on Thursday, April 9th. They set an “outperform” rating and a $48.00 price target on the stock. Citigroup reaffirmed an “outperform” rating on shares of Avalo Therapeutics in a report on Wednesday, May 6th. Mizuho raised their price target on Avalo Therapeutics from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Piper Sandler reissued an “overweight” rating and set a $60.00 price target (up from $48.00) on shares of Avalo Therapeutics in a report on Monday, May 11th. Finally, Weiss Ratings cut Avalo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.67.

Avalo Therapeutics Price Performance

Shares of Avalo Therapeutics stock opened at $13.67 on Friday. The company’s fifty day simple moving average is $15.72 and its 200-day simple moving average is $16.22. The stock has a market capitalization of $718.58 million, a PE ratio of -2.50 and a beta of 0.83. Avalo Therapeutics has a 1-year low of $4.46 and a 1-year high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. As a group, research analysts anticipate that Avalo Therapeutics will post -2.72 EPS for the current year.

Insiders Place Their Bets

In other Avalo Therapeutics news, insider Paul Varki sold 75,063 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $20.17, for a total value of $1,514,020.71. Following the sale, the insider owned 3,634 shares in the company, valued at $73,297.78. The trade was a 95.38% 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. Also, CFO Christopher Ryan Sullivan sold 8,457 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $13.23, for a total transaction of $111,886.11. Following the completion of the sale, the chief financial officer owned 423 shares in the company, valued at approximately $5,596.29. The trade was a 95.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 138,078 shares of company stock worth $2,501,346 in the last 90 days. 4.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Avalo Therapeutics

Hedge funds have recently bought and sold shares of the stock. UBS Group AG lifted its stake in Avalo Therapeutics by 956.9% in the 4th quarter. UBS Group AG now owns 477,816 shares of the company’s stock worth $8,677,000 after purchasing an additional 432,608 shares in the last quarter. Patient Square Capital LP purchased a new stake in shares of Avalo Therapeutics during the 3rd quarter valued at about $1,271,000. Moody Aldrich Partners LLC purchased a new stake in shares of Avalo Therapeutics during the 4th quarter valued at about $2,419,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Avalo Therapeutics during the 3rd quarter valued at about $1,083,000. Finally, Boothbay Fund Management LLC raised its position in shares of Avalo Therapeutics by 1,916.6% during the 3rd quarter. Boothbay Fund Management LLC now owns 228,297 shares of the company’s stock valued at $2,902,000 after buying an additional 216,976 shares in the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.