Avalyn Pharma (NASDAQ:AVLN) Shares Down 8.9% – Should You Sell?

Avalyn Pharma Inc. (NASDAQ:AVLN) was down 8.9% during trading on Wednesday . The stock traded as low as $29.98 and last traded at $30.00. Approximately 157,548 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 406,484 shares. The stock had previously closed at $32.92.

Analyst Ratings Changes

Several analysts have recently commented on AVLN shares. Zacks Research upgraded shares of Avalyn Pharma to a “hold” rating in a research report on Wednesday, May 27th. Evercore started coverage on shares of Avalyn Pharma in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 price target on the stock. Jefferies Financial Group started coverage on shares of Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $52.00 price objective for the company. Wall Street Zen upgraded shares of Avalyn Pharma to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley assumed coverage on shares of Avalyn Pharma in a report on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Avalyn Pharma presently has an average rating of “Buy” and a consensus price target of $59.00.

Avalyn Pharma Stock Performance

The company has a fifty day moving average price of $28.92.

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($21.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($16.38) by ($5.45).

Insider Activity at Avalyn Pharma

In other Avalyn Pharma news, Director Jill Carroll purchased 277,778 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $18.00 per share, with a total value of $5,000,004.00. Following the purchase, the director owned 2,186,562 shares of the company’s stock, valued at approximately $39,358,116. The trade was a 14.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the acquisition, the insider owned 2,186,562 shares in the company, valued at $39,358,116. This trade represents a 34.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.