Avalo Therapeutics (NASDAQ:AVTX) Stock Rating Cut to “Neutral” at Guggenheim

Avalo Therapeutics (NASDAQ:AVTX) was downgraded by investment analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Friday, Marketbeat reports.

A number of other research firms have also commented on AVTX. Leerink Partners assumed coverage on shares of Avalo Therapeutics in a research note on Monday, July 6th. They set an “outperform” rating and a $38.00 price objective on the stock. Weiss Ratings upgraded shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Avalo Therapeutics in a research note on Wednesday, September 16th. Finally, HC Wainwright lowered shares of Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, October 23rd. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Avalo Therapeutics Stock Performance

Shares of AVTX traded up $0.37 during mid-day trading on Friday, reaching $7.12. 2,165,700 shares of the company’s stock traded hands, compared to its average volume of 1,304,228. The business’s 50-day moving average price is $15.54 and its 200-day moving average price is $16.21. The stock has a market capitalization of $381.85 million, a P/E ratio of -1.63 and a beta of 0.68. Avalo Therapeutics has a 12 month low of $6.53 and a 12 month high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.25). Equities research analysts anticipate that Avalo Therapeutics will post -2.95 EPS for the current year.

Insiders Place Their Bets

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of Avalo Therapeutics stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total transaction of $202,394.02. Following the transaction, the chief financial officer directly owned 39,900 shares in the company, valued at approximately $651,567. The trade was a 23.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 23,258 shares of company stock worth $395,434. Insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVTX. Squarepoint Ops LLC boosted its stake in shares of Avalo Therapeutics by 624.9% during the 2nd quarter. Squarepoint Ops LLC now owns 589,245 shares of the company’s stock valued at $10,889,000 after buying an additional 507,960 shares during the period. Seven Fleet Capital Management LP boosted its stake in shares of Avalo Therapeutics by 34.3% during the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock valued at $14,244,000 after buying an additional 196,882 shares during the period. Braidwell LP acquired a new stake in shares of Avalo Therapeutics during the 2nd quarter valued at $30,107,000. Wellington Management Group LLP acquired a new stake in shares of Avalo Therapeutics during the 2nd quarter valued at $1,945,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Avalo Therapeutics during the 2nd quarter valued at $1,897,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research and development programs are intended to address conditions with significant unmet medical needs.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to inhibit interleukin-1 beta, an inflammatory cytokine involved in several immune-related disorders. The candidate is being evaluated for potential treatment of hidradenitis suppurativa, a chronic inflammatory skin disease, and other inflammatory conditions.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name in 2021.