Avalo Therapeutics (NASDAQ:AVTX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Avalo Therapeutics (NASDAQ:AVTX) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

AVTX has been the subject of a number of other research reports. HC Wainwright cut their price objective on shares of Avalo Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Bank of America initiated coverage on shares of Avalo Therapeutics in a report on Friday, June 12th. They set a “buy” rating and a $35.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $58.00 price target on shares of Avalo Therapeutics in a report on Tuesday, June 16th. Weiss Ratings raised Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Guggenheim set a $48.00 target price on shares of Avalo Therapeutics and gave the stock a “buy” rating in a research report on Friday, August 7th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Avalo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.10.

Avalo Therapeutics Stock Performance

Shares of Avalo Therapeutics stock opened at $16.18 on Friday. The company has a market capitalization of $867.73 million, a P/E ratio of -3.70 and a beta of 0.78. Avalo Therapeutics has a 1 year low of $9.54 and a 1 year high of $24.27. The company’s fifty day moving average is $19.00 and its two-hundred day moving average is $17.07.

Avalo Therapeutics (NASDAQ:AVTX) last announced its earnings results on Thursday, August 6th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.25). As a group, equities analysts expect that Avalo Therapeutics will post -2.69 earnings per share for the current year.

Insider Transactions at Avalo Therapeutics

In other news, insider Mittie Doyle sold 1,450 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $18.00, for a total transaction of $26,100.00. Following the completion of the transaction, the insider directly owned 51,776 shares of the company’s stock, valued at $931,968. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher Sullivan sold 10,185 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $17.62, for a total value of $179,459.70. Following the completion of the sale, the chief financial officer directly owned 39,900 shares in the company, valued at approximately $703,038. The trade was a 20.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,314 shares of company stock valued at $239,140. 4.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avalo Therapeutics

Several hedge funds have recently modified their holdings of AVTX. UBS Group AG grew its stake in Avalo Therapeutics by 956.9% in the 4th quarter. UBS Group AG now owns 477,816 shares of the company’s stock worth $8,677,000 after acquiring an additional 432,608 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Avalo Therapeutics by 556.4% during the 1st quarter. Renaissance Technologies LLC now owns 120,114 shares of the company’s stock worth $1,793,000 after purchasing an additional 101,814 shares during the period. DV Trading LLC purchased a new position in shares of Avalo Therapeutics during the 1st quarter worth $5,376,000. Seven Fleet Capital Management LP lifted its stake in shares of Avalo Therapeutics by 806.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 573,883 shares of the company’s stock worth $8,568,000 after purchasing an additional 510,540 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Avalo Therapeutics during the first quarter worth $849,000. 87.06% of the stock is owned by institutional investors and hedge funds.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research strategy centers on treatments intended to address conditions in which abnormal immune system activity contributes to disease progression.

Avalo’s lead product candidate is AVTX-009, an investigational fully human monoclonal antibody designed to inhibit interleukin-1 beta (IL-1β), a signaling protein involved in inflammation.