Avalo Therapeutics (NASDAQ:AVTX) Hits New 1-Year Low – Should You Sell?
by Danessa Lincoln · The Markets DailyAvalo Therapeutics, Inc. (NASDAQ:AVTX – Get Free Report)’s stock price reached a new 52-week low on Wednesday. The company traded as low as $11.99 and last traded at $12.01, with a volume of 1,648,996 shares changing hands. The stock had previously closed at $13.24.
Analyst Ratings Changes
A number of brokerages recently commented on AVTX. Cantor Fitzgerald restated 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 note on Monday, July 6th. They issued an “outperform” rating and a $38.00 price target for the company. 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 cut their price target on shares of Avalo Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.10.
Check Out Our Latest Stock Report on AVTX
Avalo Therapeutics Trading Down 9.3%
The business has a fifty day moving average price of $17.41 and a 200 day moving average price of $16.89.
Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.25). Research analysts expect that Avalo Therapeutics, Inc. will post -2.80 earnings per share for the current fiscal year.
Insider Transactions at Avalo Therapeutics
In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total transaction 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. The trade was 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 sold a total of 24,258 shares of company stock valued at $415,434 in the last quarter. Insiders own 4.46% of the company’s stock.
Institutional Investors Weigh In On Avalo Therapeutics
A number of hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC grew its holdings in shares of Avalo Therapeutics by 624.9% during the 2nd 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 increased its position in 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 in the last quarter. Braidwell LP acquired a new position in Avalo Therapeutics during the 2nd quarter worth approximately $30,107,000. Wellington Management Group LLP bought a new position in Avalo Therapeutics in the 2nd quarter valued at approximately $1,945,000. Finally, Bank of New York Mellon Corp bought a new position in Avalo Therapeutics in the 2nd quarter valued at approximately $1,897,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.
Avalo Therapeutics Company Profile
Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research strategy centers on addressing conditions in which abnormal immune-system activity contributes to inflammation and tissue damage.
Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to neutralize interleukin-1 beta, a pro-inflammatory cytokine involved in several inflammatory disorders. The company is evaluating AVTX-009 in clinical development for hidradenitis suppurativa, a chronic inflammatory skin condition, and may pursue additional indications in which interleukin-1 beta plays a role.
The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name as it shifted its strategic focus toward immunology and inflammation.
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