Avalo Therapeutics (NASDAQ:AVTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Avalo Therapeutics (NASDAQ:AVTX) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Other research analysts have also issued reports about the company. Oppenheimer set a $16.00 price target on Avalo Therapeutics in a report on Monday, October 26th. Weiss Ratings upgraded shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Guggenheim lowered shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, October 23rd. BTIG Research dropped their target price on shares of Avalo Therapeutics to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.82.

Avalo Therapeutics Price Performance

NASDAQ AVTX opened at $7.27 on Friday. Avalo Therapeutics has a twelve month low of $6.53 and a twelve month high of $24.27. The stock has a 50-day simple moving average of $13.24 and a 200 day simple moving average of $15.80.

Avalo Therapeutics (NASDAQ:AVTX) last announced its earnings results on Thursday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.25. As a group, analysts predict that Avalo Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Avalo Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVTX. Glenmede Trust Co. NA grew its position in Avalo Therapeutics by 25.8% during the 1st quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock worth $384,000 after acquiring an additional 5,280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Avalo Therapeutics during the 1st quarter valued at $174,000. CenterBook Partners LP raised its position in Avalo Therapeutics by 15.4% in the 3rd quarter. CenterBook Partners LP now owns 153,344 shares of the company’s stock valued at $2,351,000 after purchasing an additional 20,475 shares during the last quarter. Bank of America Corp DE raised its position in Avalo Therapeutics by 3.5% in the 1st quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock valued at $9,600,000 after purchasing an additional 21,650 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Avalo Therapeutics in the 1st quarter valued at $607,000. Institutional investors own 87.06% 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.