Avalyn Pharma Inc. (NASDAQ:AVLN) Short Interest Update

Avalyn Pharma Inc. (NASDAQ:AVLN) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 896,139 shares, an increase of 59.3% from the May 14th total of 562,374 shares. Based on an average daily trading volume, of 278,129 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.0% of the shares of the stock are short sold.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several analysts have recently commented on AVLN shares. Evercore began coverage on shares of Avalyn Pharma in a research note on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price target on the stock. Zacks Research raised Avalyn Pharma to a “hold” rating in a report on Wednesday, May 27th. Guggenheim began coverage on Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $80.00 price objective on the stock. Jefferies Financial Group started coverage on Avalyn Pharma in a research note on Monday, May 25th. They issued a “buy” rating and a $52.00 target price for the company. Finally, Wall Street Zen upgraded Avalyn Pharma to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $59.00.

Avalyn Pharma Stock Down 0.1%

Shares of NASDAQ AVLN traded down $0.02 during mid-day trading on Tuesday, hitting $28.73. The company’s stock had a trading volume of 140,780 shares, compared to its average volume of 312,249. Avalyn Pharma has a one year low of $24.15 and a one year high of $32.22.

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings results 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).

About Avalyn Pharma

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.