Avalo Therapeutics (NASDAQ:AVTX) Stock Price Up 6.2% – Here’s Why

Avalo Therapeutics, Inc. (NASDAQ:AVTX) shares rose 6.2% during trading on Friday . The company traded as high as $18.95 and last traded at $18.9850. 517,899 shares were traded during trading, a decline of 58% from the average session volume of 1,233,941 shares. The stock had previously closed at $17.88.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVTX shares. Bank of America began coverage on Avalo Therapeutics in a research note on Friday, June 12th. They issued a “buy” rating and a $35.00 price objective on the stock. Wolfe Research initiated coverage on Avalo Therapeutics in a research report on Thursday, April 9th. They set an “outperform” rating and a $48.00 target price for the company. Citigroup reaffirmed an “outperform” rating on shares of Avalo Therapeutics in a research note on Wednesday, May 6th. Mizuho upped their price target on Avalo Therapeutics from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Leerink Partners initiated coverage on Avalo Therapeutics in a research note on Monday, July 6th. They set an “outperform” rating and a $38.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Avalo Therapeutics Stock Up 8.3%

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -3.55 and a beta of 0.78. The stock’s 50-day simple moving average is $16.85 and its 200 day simple moving average is $16.10.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings data 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, equities research analysts anticipate that Avalo Therapeutics, Inc. will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mittie Doyle sold 1,450 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $18.00, for a total transaction of $26,100.00. Following the completion of the sale, the insider directly owned 51,776 shares of the company’s stock, valued at $931,968. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher Ryan Sullivan sold 8,457 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $13.23, for a total value of $111,886.11. Following the sale, the chief financial officer directly owned 423 shares of the company’s stock, valued at $5,596.29. This represents a 95.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 93,428 shares of company stock worth $1,762,722 in the last three months. Insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Caligan Partners LP bought a new position in shares of Avalo Therapeutics in the third quarter worth about $10,592,000. Balyasny Asset Management L.P. acquired a new position in shares of Avalo Therapeutics during the third quarter worth approximately $10,390,000. Vanguard Group Inc. grew its stake in shares of Avalo Therapeutics by 314.9% during the third quarter. Vanguard Group Inc. now owns 692,637 shares of the company’s stock valued at $8,803,000 after purchasing an additional 525,696 shares during the last quarter. Millennium Management LLC grew its stake in shares of Avalo Therapeutics by 380.2% during the fourth quarter. Millennium Management LLC now owns 659,979 shares of the company’s stock valued at $11,985,000 after purchasing an additional 522,548 shares during the last quarter. Finally, Seven Fleet Capital Management LP grew its stake in shares of Avalo Therapeutics by 806.0% during the first quarter. Seven Fleet Capital Management LP now owns 573,883 shares of the company’s stock valued at $8,568,000 after purchasing an additional 510,540 shares during the last quarter. 87.06% of the stock is owned by institutional investors.

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.