Avalo Therapeutics (NASDAQ:AVTX) Earns Buy Rating from Analysts at Bank of America

Analysts at Bank of America started coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 156.04% from the stock’s previous close.

Several other research analysts have also issued reports on AVTX. Citigroup restated an “outperform” rating on shares of Avalo Therapeutics in a research report on Wednesday, May 6th. Citizens Jmp dropped their target price on Avalo Therapeutics from $62.00 to $55.00 and set a “market outperform” rating for the company in a research report on Thursday, May 14th. BTIG Research boosted their target price on Avalo Therapeutics from $40.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wedbush dropped their target price on Avalo Therapeutics from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Finally, Wolfe Research assumed coverage on Avalo Therapeutics in a research report on Thursday, April 9th. They set an “outperform” rating and a $48.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Avalo Therapeutics Stock Performance

NASDAQ AVTX opened at $13.67 on Friday. The company has a market cap of $718.58 million, a P/E ratio of -2.50 and a beta of 0.83. The business’s 50 day moving average price is $15.72 and its 200-day moving average price is $16.22. Avalo Therapeutics has a fifty-two week low of $4.46 and a fifty-two week high of $24.27.

Avalo Therapeutics (NASDAQ:AVTX) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.02. As a group, equities analysts predict that Avalo Therapeutics will post -2.72 EPS for the current year.

Insiders Place Their Bets

In other Avalo Therapeutics news, insider Mittie Doyle sold 25,492 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $16.15, for a total value of $411,695.80. Following the transaction, the insider directly owned 3,622 shares in the company, valued at $58,495.30. This represents a 87.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher Ryan Sullivan sold 8,458 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $13.09, for a total transaction of $110,715.22. Following the completion of the transaction, the chief financial officer owned 8,880 shares in the company, valued at $116,239.20. This represents a 48.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 138,078 shares of company stock worth $2,501,346 in the last three months. Corporate insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Avalo Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC grew its stake in Avalo Therapeutics by 39.5% in the 3rd quarter. Orbimed Advisors LLC now owns 1,349,300 shares of the company’s stock worth $17,150,000 after acquiring an additional 382,300 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in Avalo Therapeutics by 27.6% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,340,840 shares of the company’s stock worth $20,019,000 after acquiring an additional 289,786 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Avalo Therapeutics by 24.1% during the third quarter. Nantahala Capital Management LLC now owns 1,235,000 shares of the company’s stock valued at $15,697,000 after purchasing an additional 240,000 shares in the last quarter. Caligan Partners LP boosted its stake in shares of Avalo Therapeutics by 5.8% during the fourth quarter. Caligan Partners LP now owns 881,533 shares of the company’s stock valued at $16,009,000 after purchasing an additional 48,200 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Avalo Therapeutics during the third quarter valued at approximately $10,390,000. 87.06% of the stock is currently owned by institutional investors.

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.