Avalo Therapeutics (NASDAQ:AVTX) Reaches New 1-Year High Following Analyst Upgrade

Avalo Therapeutics, Inc. (NASDAQ:AVTX)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Wedbush raised their price target on the stock from $29.00 to $40.00. Wedbush currently has an outperform rating on the stock. Avalo Therapeutics traded as high as $23.71 and last traded at $19.9110, with a volume of 7937360 shares traded. The stock had previously closed at $16.26.

Several other research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avalo Therapeutics in a report on Wednesday, April 8th. BTIG Research upped their price objective on Avalo Therapeutics from $40.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of Avalo Therapeutics in a report on Wednesday. Wall Street Zen raised Avalo Therapeutics from a “strong sell” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Wolfe Research started coverage on Avalo Therapeutics in a report on Thursday, April 9th. They set an “outperform” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Insiders Place Their Bets

In other news, CFO Christopher Ryan Sullivan sold 8,458 shares of the stock in a transaction 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 transaction, the chief financial officer owned 8,880 shares of the company’s stock, valued at $116,239.20. This represents a 48.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mittie Doyle sold 25,492 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $16.15, for a total value of $411,695.80. Following the completion of the transaction, the insider directly owned 3,622 shares in the company, valued at approximately $58,495.30. This trade represents a 87.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 63,015 shares of company stock worth $987,326. 4.46% of the stock is currently owned by company insiders.

Institutional Trading of Avalo Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Patient Square Capital LP acquired a new stake in Avalo Therapeutics during the 3rd quarter worth $1,271,000. Cantor Fitzgerald L. P. acquired a new stake in Avalo Therapeutics during the 3rd quarter worth $1,083,000. Boothbay Fund Management LLC raised its stake in Avalo Therapeutics by 1,916.6% during the 3rd quarter. Boothbay Fund Management LLC now owns 228,297 shares of the company’s stock worth $2,902,000 after buying an additional 216,976 shares during the period. Ally Bridge Group NY LLC acquired a new stake in Avalo Therapeutics during the 3rd quarter worth $2,264,000. Finally, Boxer Capital Management LLC acquired a new stake in Avalo Therapeutics during the 3rd quarter worth $1,589,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Trading Up 29.6%

The firm has a market cap of $562.89 million, a price-to-earnings ratio of -3.62 and a beta of 0.78. The company has a 50 day moving average of $15.33 and a 200 day moving average of $16.24.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($1.54) by $1.17. The business had revenue of $0.06 million for the quarter, compared to analyst estimates of ($0.21) million. Equities analysts forecast that Avalo Therapeutics, Inc. will post -4.04 EPS for the current fiscal year.

Avalo Therapeutics Company Profile

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.