Avalyn Pharma (NASDAQ:AVLN) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Avalyn Pharma Inc. (NASDAQ:AVLN)’s share price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $29.11 and traded as high as $29.18. Avalyn Pharma shares last traded at $29.15, with a volume of 630,263 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Avalyn Pharma from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Morgan Stanley upped their target price on shares of Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings began coverage on shares of Avalyn Pharma in a research report on Thursday, August 13th. They issued a “sell (d+)” rating on the stock. Finally, Raymond James Financial started coverage on shares of Avalyn Pharma in a research note on Friday, October 2nd. They set an “outperform” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Avalyn Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Avalyn Pharma Trading Up 9.3%

The firm has a market cap of $1.29 billion and a PE ratio of -1.28. The stock has a 50 day simple moving average of $29.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 33.12 and a current ratio of 33.12.

Avalyn Pharma (NASDAQ:AVLN) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.05. On average, sell-side analysts predict that Avalyn Pharma Inc. will post -3.86 EPS for the current year.

Hedge Funds Weigh In On Avalyn Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in AVLN. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Avalyn Pharma in the 3rd quarter worth $29,000. Manchester Capital Management LLC acquired a new stake in Avalyn Pharma in the third quarter valued at $36,000. Profund Advisors LLC purchased a new position in Avalyn Pharma during the 3rd quarter valued at about $668,000. Bank of New York Mellon Corp purchased a new position in shares of Avalyn Pharma during the 2nd quarter worth approximately $1,321,000. Finally, State Street Corp purchased a new position in Avalyn Pharma during the second quarter worth $10,501,000.

About Avalyn Pharma

Avalyn Pharma, Inc (NASDAQ: AVLN) is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with pulmonary fibrosis and other serious respiratory diseases. The company’s research is aimed at delivering established antifibrotic medicines directly to the lungs, with the potential to improve treatment effectiveness while reducing systemic exposure and associated side effects.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for idiopathic pulmonary fibrosis and progressive pulmonary fibrosis.