Avalo Therapeutics (NASDAQ:AVTX) Given New $20.00 Price Target at Wedbush

Avalo Therapeutics (NASDAQ:AVTX) had its price objective dropped by equities research analysts at Wedbush from $22.00 to $20.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush‘s target price suggests a potential upside of 195.81% from the stock’s previous close.

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

Avalo Therapeutics Trading Up 2.0%

Shares of Avalo Therapeutics stock traded up $0.13 during trading on Friday, reaching $6.76. The company’s stock had a trading volume of 252,145 shares, compared to its average volume of 1,308,830. The stock has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $15.88. Avalo Therapeutics has a one year low of $6.53 and a one year high of $24.27. The stock has a market capitalization of $362.59 million, a P/E ratio of -1.54 and a beta of 0.75.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.25. As a group, sell-side analysts anticipate that Avalo Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Transactions at Avalo Therapeutics

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the transaction, the chief financial officer directly owned 39,900 shares of the company’s stock, valued at approximately $651,567. This trade represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,258 shares of company stock valued at $395,434 over the last quarter. 4.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AlphaCentric Advisors LLC bought a new position in shares of Avalo Therapeutics in the 1st quarter worth $174,000. Glenmede Trust Co. NA increased its holdings in Avalo Therapeutics by 25.8% in the first quarter. Glenmede Trust Co. NA now owns 25,730 shares of the company’s stock valued at $384,000 after purchasing an additional 5,280 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Avalo Therapeutics in the first quarter valued at about $607,000. Sei Investments Co. acquired a new position in Avalo Therapeutics in the first quarter valued at about $849,000. Finally, Renaissance Technologies LLC lifted its stake in Avalo Therapeutics by 556.4% in the first quarter. Renaissance Technologies LLC now owns 120,114 shares of the company’s stock valued at $1,793,000 after buying an additional 101,814 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

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.