Avalo Therapeutics (NASDAQ:AVTX) Stock Lifted to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Avalo Therapeutics (NASDAQ:AVTX) from a sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on AVTX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Weiss Ratings upgraded Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. HC Wainwright downgraded Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 23rd. Oppenheimer set a $16.00 price objective on Avalo Therapeutics in a research note on Monday, October 26th. Finally, Wedbush reduced their price objective on Avalo Therapeutics from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.82.

Avalo Therapeutics Stock Up 4.5%

Shares of NASDAQ AVTX opened at $6.93 on Friday. Avalo Therapeutics has a 52 week low of $6.53 and a 52 week high of $24.27. The firm has a 50-day moving average price of $13.48 and a 200 day moving average price of $15.84. The stock has a market capitalization of $371.66 million, a price-to-earnings ratio of -2.75 and a beta of 0.75.

Avalo Therapeutics (NASDAQ:AVTX) last released 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. Equities research analysts expect that Avalo Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of the 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 sale, the chief financial officer directly owned 39,900 shares in the company, valued at $651,567. This represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 in the last quarter. 4.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Avalo Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of AVTX. Glenmede Trust Co. NA grew its position in shares of 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 period. AlphaCentric Advisors LLC acquired a new position in Avalo Therapeutics in the first quarter valued at $174,000. CenterBook Partners LP lifted its position in Avalo Therapeutics by 15.4% during the third quarter. CenterBook Partners LP now owns 153,344 shares of the company’s stock worth $2,351,000 after buying an additional 20,475 shares during the period. Bank of America Corp DE lifted its position in Avalo Therapeutics by 3.5% during the first quarter. Bank of America Corp DE now owns 643,000 shares of the company’s stock worth $9,600,000 after buying an additional 21,650 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in Avalo Therapeutics during the first quarter worth about $607,000. Hedge funds and other institutional investors 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.