Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Update

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 78,500 shares, a growth of 16.8% from the March 15th total of 67,200 shares. Based on an average daily volume of 642,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Avalo Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in shares of Avalo Therapeutics in the 4th quarter valued at about $95,000. Goldman Sachs Group Inc. boosted its stake in shares of Avalo Therapeutics by 23.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 649,653 shares of the company’s stock valued at $324,000 after purchasing an additional 124,769 shares during the last quarter. Braidwell LP bought a new position in shares of Avalo Therapeutics in the 1st quarter valued at about $433,000. Acadian Asset Management LLC bought a new position in shares of Avalo Therapeutics in the 3rd quarter valued at about $34,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Avalo Therapeutics by 819.1% in the 1st quarter. Renaissance Technologies LLC now owns 367,193 shares of the company’s stock valued at $266,000 after purchasing an additional 327,241 shares during the last quarter. Institutional investors own 87.06% of the company’s stock.

Avalo Therapeutics Stock Up 15.9 %

NASDAQ:AVTX traded up $2.43 during mid-day trading on Tuesday, reaching $17.67. 195,143 shares of the company were exchanged, compared to its average volume of 585,924. Avalo Therapeutics has a 12 month low of $3.95 and a 12 month high of $1,130.40. The company has a fifty day moving average of $7.79 and a 200 day moving average of $14.26. The stock has a market cap of $18.20 million, a PE ratio of -0.03 and a beta of 1.13.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised shares of Avalo Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday.

About Avalo Therapeutics

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation. The company's drug candidates include AVTX-002, a fully human anti-LIGHT monoclonal antibody, which is under Phase II clinical trial for the treatment of non-eosinophilic asthma, as well as Crohn's disease; Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome; and AVTX-008, a fully human B and T Lymphocyte Attenuator (BTLA) agonist fusion protein.