Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Large Decrease in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 10,100 shares, a drop of 79.5% from the October 15th total of 49,200 shares. Based on an average daily trading volume, of 28,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Trading of Avalo Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Logos Global Management LP purchased a new stake in Avalo Therapeutics in the second quarter valued at approximately $6,722,000. Affinity Asset Advisors LLC increased its holdings in Avalo Therapeutics by 350.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock worth $561,000 after buying an additional 35,000 shares during the period. Finally, Ikarian Capital LLC purchased a new position in Avalo Therapeutics during the 1st quarter worth approximately $1,015,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Avalo Therapeutics Stock Performance

Shares of Avalo Therapeutics stock opened at $13.40 on Thursday. The firm’s 50 day simple moving average is $10.53 and its two-hundred day simple moving average is $11.13. Avalo Therapeutics has a 12-month low of $3.95 and a 12-month high of $34.46.

Avalo Therapeutics (NASDAQ:AVTX) last released its earnings results on Monday, August 12th. The company reported ($14.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.70) by ($7.37). Sell-side analysts anticipate that Avalo Therapeutics will post -19.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright assumed coverage on Avalo Therapeutics in a research note on Thursday, October 24th. They set a “neutral” rating on the stock.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.