Avalo Therapeutics (NASDAQ:AVTX) Releases Earnings Results, Misses Estimates By $0.52 EPS

Avalo Therapeutics (NASDAQ:AVTX) issued its quarterly earnings results on Thursday. The company reported ($2.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.52), Zacks reports.

Avalo Therapeutics Stock Down 6.3%

Shares of AVTX traded down $1.03 during mid-day trading on Thursday, reaching $15.42. The company’s stock had a trading volume of 482,924 shares, compared to its average volume of 364,138. The company has a market cap of $202.77 million, a price-to-earnings ratio of -0.85 and a beta of 0.94. The business has a fifty day moving average of $13.50 and a 200 day moving average of $8.42. Avalo Therapeutics has a 1 year low of $3.39 and a 1 year high of $19.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AVTX. Boothbay Fund Management LLC bought a new position in Avalo Therapeutics during the second quarter worth about $56,000. Geode Capital Management LLC grew its position in Avalo Therapeutics by 2.5% in the second quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock valued at $552,000 after acquiring an additional 2,648 shares during the period. Bank of America Corp DE grew its position in Avalo Therapeutics by 7,066.8% in the second quarter. Bank of America Corp DE now owns 406,571 shares of the company’s stock valued at $2,029,000 after acquiring an additional 400,898 shares during the period. Finally, Nantahala Capital Management LLC boosted its stake in shares of Avalo Therapeutics by 10.6% in the 2nd quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company’s stock valued at $4,965,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVTX. Cantor Fitzgerald started coverage on shares of Avalo Therapeutics in a research report on Friday, August 15th. They issued an “overweight” rating for the company. BTIG Research reissued a “buy” rating and set a $40.00 target price on shares of Avalo Therapeutics in a report on Monday, September 29th. TD Cowen assumed coverage on Avalo Therapeutics in a report on Friday, September 5th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avalo Therapeutics in a research report on Tuesday, October 14th. Finally, Cowen initiated coverage on Avalo Therapeutics in a research note on Friday, September 5th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.67.

About Avalo Therapeutics

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.