Avalo Therapeutics (NASDAQ:AVTX) Stock Gets Price Target Reduction from BTIG Research

by · The Markets Daily

Avalo Therapeutics (NASDAQ:AVTX – Free Report) had its price target decreased by BTIG Research to $10.00 in a report released on Friday, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.

Several other brokerages have also weighed in on AVTX. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Leerink Partners began coverage on Avalo Therapeutics in a research report on Monday, July 6th. They issued an “outperform” rating and a $38.00 target price for the company. Guggenheim reiterated a “neutral” rating on shares of Avalo Therapeutics in a report on Friday. Finally, HC Wainwright reissued a “neutral” rating on shares of Avalo Therapeutics in a research report on Friday. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.10.

Get Our Latest Analysis on AVTX

Avalo Therapeutics Stock Performance

AVTX opened at $6.93 on Friday. The company has a 50-day moving average of $16.05 and a 200-day moving average of $16.61. The company has a market capitalization of $371.66 million, a P/E ratio of -1.59 and a beta of 0.68. Avalo Therapeutics has a 1-year low of $6.53 and a 1-year high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). As a group, sell-side analysts expect that Avalo Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insider Activity at Avalo Therapeutics

In other news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction dated 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 directly owned 39,900 shares of the company’s stock, valued at approximately $651,567. The trade was a 23.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 23,258 shares of company stock valued at $395,434. Insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC grew its holdings in shares of Avalo Therapeutics by 624.9% during the second quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock valued at $10,889,000 after purchasing an additional 507,960 shares during the last quarter. Seven Fleet Capital Management LP raised its position in shares of Avalo Therapeutics by 34.3% during the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock worth $14,244,000 after purchasing an additional 196,882 shares during the period. Braidwell LP acquired a new stake in shares of Avalo Therapeutics during the 2nd quarter worth approximately $30,107,000. Wellington Management Group LLP acquired a new stake in shares of Avalo Therapeutics during the 2nd quarter worth approximately $1,945,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Avalo Therapeutics in the 2nd quarter worth approximately $1,897,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Key Avalo Therapeutics News

Here are the key news stories impacting Avalo Therapeutics this week:

  • Positive Sentiment: Some analysts still see substantial upside. BTIG Research maintained a “buy” rating while setting a $10 price target, and Wedbush retained its “outperform” rating with a $22 target. Those targets imply meaningful potential appreciation from the recent trading level. BTIG Research recommendations Wedbush price target update
  • Neutral Sentiment: Mixed analyst views remain. Guggenheim reaffirmed its “neutral” rating, while Wedbush’s decision to remain bullish provides some support despite its lower target. Guggenheim recommendations
  • Neutral Sentiment: Trading was briefly halted under a limit-up/limit-down, or LULD, pause. The halt reflects heightened volatility but does not itself indicate a fundamental change in Avalo’s business.
  • Negative Sentiment: AbbVie’s positive Phase 3 HS data appears to have weakened Avalo’s competitive position. Investors may view AbbVie’s results as increasing competition and reducing the perceived commercial opportunity for Avalo’s lead asset, resulting in selling pressure. AbbVie Phase 3 data article
  • Negative Sentiment: Analyst sentiment has deteriorated. HC Wainwright downgraded Avalo from “buy” to “neutral,” while Wedbush reduced its price target from $34 to $22 despite keeping an “outperform” rating. The target reduction signals greater near-term uncertainty. HC Wainwright downgrade

Avalo Therapeutics Company Profile

(Get Free Report)

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.

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