Avalo Therapeutics (NASDAQ:AVTX) Now Covered by Leerink Partners

Leerink Partners assumed coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a research report released on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $38.00 price target on the stock.

A number of other research firms also recently commented on AVTX. HC Wainwright reduced their price objective on shares of Avalo Therapeutics from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Citizens Jmp decreased their target price on shares of Avalo Therapeutics from $62.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings cut shares of Avalo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Avalo Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Wedbush cut their price target on shares of Avalo Therapeutics from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Avalo Therapeutics Trading Down 0.0%

AVTX opened at $19.96 on Monday. The stock’s 50 day simple moving average is $16.44 and its 200-day simple moving average is $16.08. The stock has a market cap of $1.05 billion, a PE ratio of -3.67 and a beta of 0.78. Avalo Therapeutics has a 1 year low of $4.61 and a 1 year high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last issued its earnings results on Wednesday, May 13th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.02. Equities analysts forecast that Avalo Therapeutics will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Mittie Doyle sold 1,450 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $18.00, for a total value of $26,100.00. Following the completion of the transaction, the insider directly owned 51,776 shares in the company, valued at approximately $931,968. The trade was a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher Ryan Sullivan sold 8,458 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $13.09, for a total value of $110,715.22. Following the sale, the chief financial officer directly owned 8,880 shares of the company’s stock, valued at approximately $116,239.20. The trade was a 48.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 93,428 shares of company stock worth $1,762,722 in the last quarter. Insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Avalo Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Avalo Therapeutics by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock worth $552,000 after purchasing an additional 2,648 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of Avalo Therapeutics by 10.6% in the second quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company’s stock valued at $4,965,000 after purchasing an additional 95,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Avalo Therapeutics by 7,066.8% during the second quarter. Bank of America Corp DE now owns 406,571 shares of the company’s stock worth $2,029,000 after buying an additional 400,898 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Avalo Therapeutics during the second quarter worth about $56,000. Finally, Vanguard Group Inc. raised its position in Avalo Therapeutics by 314.9% in the 3rd quarter. Vanguard Group Inc. now owns 692,637 shares of the company’s stock valued at $8,803,000 after buying an additional 525,696 shares during the last quarter. 87.06% of the stock is owned by institutional investors.

About Avalo Therapeutics

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.