Avalyn Pharma (NASDAQ:AVLN) Shares Up 6.5% – Still a Buy?

Avalyn Pharma Inc. (NASDAQ:AVLN)’s share price shot up 6.5% during mid-day trading on Thursday . The stock traded as high as $28.59 and last traded at $28.57. 8,663 shares changed hands during trading, a decline of 97% from the average session volume of 345,549 shares. The stock had previously closed at $26.82.

Wall Street Analyst Weigh In

AVLN has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Avalyn Pharma in a research note on Monday. They set a “buy” rating and a $52.00 target price on the stock. Guggenheim initiated coverage on shares of Avalyn Pharma in a research note on Monday. They set a “buy” rating and a $80.00 target price on the stock. Morgan Stanley initiated coverage on shares of Avalyn Pharma in a research note on Tuesday. They set an “overweight” rating and a $53.00 target price on the stock. Evercore initiated coverage on shares of Avalyn Pharma in a research note on Tuesday. They set an “outperform” rating and a $51.00 target price on the stock. Finally, Wall Street Zen raised shares of Avalyn Pharma to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and an average price target of $59.00.

Avalyn Pharma Stock Performance

Insiders Place Their Bets

In other news, Director Jill Carroll purchased 277,778 shares of the business’s stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $18.00 per share, with a total value of $5,000,004.00. Following the completion of the transaction, the director owned 2,186,562 shares of the company’s stock, valued at $39,358,116. The trade was a 14.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $18.00 per share, for a total transaction of $9,999,990.00. Following the transaction, the insider directly owned 2,186,562 shares in the company, valued at approximately $39,358,116. This represents a 34.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

About Avalyn Pharma

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.