Avalyn Pharma (NASDAQ:AVLN) Trading Down 9.2% – Should You Sell?

Avalyn Pharma Inc. (NASDAQ:AVLN) shares traded down 9.2% on Wednesday . The company traded as low as $29.14 and last traded at $29.47. Approximately 130,560 shares changed hands during trading, a decline of 58% from the average daily volume of 312,908 shares. The stock had previously closed at $32.45.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVLN. Zacks Research upgraded Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings began coverage on Avalyn Pharma in a research note on Thursday, August 13th. They set a “sell (d+)” rating on the stock. Evercore assumed coverage on Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 price objective for the company. Wall Street Zen downgraded Avalyn Pharma from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Morgan Stanley upped their target price on Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.00.

Avalyn Pharma Stock Down 8.3%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12. The company has a 50 day simple moving average of $33.49. The firm has a market cap of $1.32 billion and a PE ratio of -1.30.

Avalyn Pharma (NASDAQ:AVLN) last posted its earnings results on Wednesday, August 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.05. On average, analysts predict that Avalyn Pharma Inc. will post -3.81 earnings per share for the current fiscal year.

Institutional Trading of Avalyn Pharma

A number of hedge funds have recently modified their holdings of the stock. Montanova Capital LLC purchased a new stake in shares of Avalyn Pharma in the second quarter worth about $82,402,000. Braidwell LP purchased a new position in Avalyn Pharma during the second quarter valued at approximately $26,382,000. State Street Corp acquired a new position in Avalyn Pharma in the second quarter valued at approximately $10,501,000. Finally, Bank of New York Mellon Corp acquired a new position in Avalyn Pharma in the second quarter valued at approximately $1,321,000.

Avalyn Pharma Company Profile

Avalyn Pharma is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious and progressive pulmonary diseases. The company is working to deliver established antifibrotic medicines directly to the lungs through proprietary inhalation technologies, with the goal of improving treatment and potentially reducing systemic exposure and related side effects.

Avalyn’s lead program, AP01, is an inhaled formulation of pirfenidone being developed for patients with idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring and declining respiratory function.