Avalyn Pharma (NASDAQ:AVLN) Trading Up 9.3% – Here’s Why

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) rose 9.3% on Wednesday . The stock traded as high as $31.14 and last traded at $30.68. 206,809 shares changed hands during trading, a decline of 35% from the average session volume of 316,451 shares. The stock had previously closed at $28.07.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Guggenheim initiated coverage on Avalyn Pharma in a research report on Monday, May 25th. They issued a “buy” rating and a $80.00 price objective on the stock. Wall Street Zen raised shares of Avalyn Pharma to a “hold” rating in a report on Saturday, May 9th. Evercore initiated coverage on shares of Avalyn Pharma in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $51.00 price objective for the company. Zacks Research raised shares of Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group began coverage on Avalyn Pharma in a research report on Monday, May 25th. They set a “buy” rating and a $52.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Avalyn Pharma presently has an average rating of “Buy” and an average target price of $59.00.

Avalyn Pharma Trading Up 7.3%

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($21.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($16.38) by ($5.45).

Insider Activity

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

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.