Avalo Therapeutics (NASDAQ:AVTX) Announces Earnings Results

Avalo Therapeutics (NASDAQ:AVTX) posted its earnings results on Thursday. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.25, FiscalAI reports.

Avalo Therapeutics Stock Performance

NASDAQ AVTX traded down $0.44 during trading on Thursday, hitting $6.63. The stock had a trading volume of 1,257,791 shares, compared to its average volume of 2,925,612. The firm has a 50 day moving average price of $13.74 and a 200 day moving average price of $15.88. Avalo Therapeutics has a twelve month low of $6.53 and a twelve month high of $24.27.

Wall Street Analysts Forecast Growth

AVTX has been the topic of a number of research analyst reports. HC Wainwright downgraded shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. Weiss Ratings raised shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Guggenheim downgraded shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, October 23rd. Wall Street Zen downgraded shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Finally, BTIG Research cut their target price on Avalo Therapeutics to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Avalo Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Insider Activity

In other 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 completion of the transaction, the chief financial officer 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,258 shares of company stock worth $395,434 over the last 90 days. 4.46% of the stock is currently owned by corporate insiders.

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.