Avalo Therapeutics (NASDAQ:AVTX) Releases Earnings Results, Beats Expectations By $0.25 EPS

Avalo Therapeutics (NASDAQ:AVTX) announced its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.25, FiscalAI reports.

Avalo Therapeutics Price Performance

Shares of Avalo Therapeutics stock traded down $0.44 during trading on Thursday, hitting $6.63. 1,257,791 shares of the stock were exchanged, compared to its average volume of 2,925,612. The firm’s 50-day moving average price is $13.74 and its 200 day moving average price is $15.88. Avalo Therapeutics has a 12-month low of $6.53 and a 12-month high of $24.27.

Analysts Set New Price Targets

Several research analysts recently commented on AVTX shares. HC Wainwright cut Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Wedbush reduced their price target on Avalo Therapeutics from $34.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. Oppenheimer set a $16.00 price objective on Avalo Therapeutics in a research note on Monday, October 26th. Finally, Wall Street Zen downgraded Avalo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Avalo Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity at Avalo Therapeutics

In related news, CFO Christopher Sullivan sold 12,394 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total value of $202,394.02. Following the transaction, the chief financial officer owned 39,900 shares of the company’s stock, valued at $651,567. This represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,258 shares of company stock worth $395,434 in the last three months. Insiders own 4.46% of the company’s stock.

About Avalo Therapeutics

Avalo Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research and development programs are intended to address conditions with significant unmet medical needs.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to inhibit interleukin-1 beta, an inflammatory cytokine involved in several immune-related disorders. The candidate is being evaluated for potential treatment of hidradenitis suppurativa, a chronic inflammatory skin disease, and other inflammatory conditions.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name in 2021.