Wellington Management Group LLP Makes New Investment in Avalo Therapeutics, Inc. $AVTX

Wellington Management Group LLP bought a new stake in Avalo Therapeutics, Inc. (NASDAQ:AVTX) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 105,261 shares of the company’s stock, valued at approximately $1,945,000.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Avalo Therapeutics by 2.5% during the second quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock worth $552,000 after purchasing an additional 2,648 shares during the last quarter. Nantahala Capital Management LLC increased its stake in shares of Avalo Therapeutics by 10.6% in the second quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company’s stock valued at $4,965,000 after buying an additional 95,000 shares during the period. Bank of America Corp DE raised its holdings in Avalo Therapeutics by 7,066.8% in the 2nd quarter. Bank of America Corp DE now owns 406,571 shares of the company’s stock valued at $2,029,000 after buying an additional 400,898 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Avalo Therapeutics during the 2nd quarter worth approximately $56,000. Finally, Vanguard Group Inc. boosted its position in Avalo Therapeutics by 314.9% during the 3rd quarter. Vanguard Group Inc. now owns 692,637 shares of the company’s stock worth $8,803,000 after buying an additional 525,696 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AVTX. Bank of America started coverage on shares of Avalo Therapeutics in a report on Friday, June 12th. They set a “buy” rating and a $35.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $58.00 price target on shares of Avalo Therapeutics in a research note on Tuesday, June 16th. Weiss Ratings upgraded shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wedbush reduced their price objective on shares of Avalo Therapeutics from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Finally, HC Wainwright decreased their price objective on Avalo Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.10.

Avalo Therapeutics Price Performance

Avalo Therapeutics stock opened at $17.18 on Friday. The stock’s 50 day moving average is $19.13 and its 200 day moving average is $17.06. Avalo Therapeutics, Inc. has a one year low of $9.54 and a one year high of $24.27. The firm has a market cap of $921.36 million, a P/E ratio of -3.93 and a beta of 0.78.

Avalo Therapeutics (NASDAQ:AVTX) last released its 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 anticipate that Avalo Therapeutics, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Activity at Avalo Therapeutics

In other news, insider Mittie Doyle sold 1,450 shares of the stock in a transaction on Tuesday, June 23rd. The shares were 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 in the company, valued at $931,968. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 3,129 shares of company stock valued at $59,680. Corporate insiders own 4.46% of the company’s stock.

About Avalo Therapeutics

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.