Avalyn Pharma (NASDAQ:AVLN) Shares Gap Down – Time to Sell?

Shares of Avalyn Pharma Inc. (NASDAQ:AVLN) gapped down prior to trading on Tuesday. The stock had previously closed at $28.13, but opened at $27.22. Avalyn Pharma shares last traded at $26.41, with a volume of 20,107 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on AVLN shares. Raymond James Financial initiated coverage on shares of Avalyn Pharma in a research report on Friday. They issued an “outperform” rating and a $60.00 price objective on the stock. Wall Street Zen cut shares of Avalyn Pharma from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Weiss Ratings initiated coverage on shares of Avalyn Pharma in a report on Thursday, August 13th. They issued a “sell (d+)” rating on the stock. Finally, Morgan Stanley increased their price target on shares of Avalyn Pharma from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Avalyn Pharma Stock Performance

The firm has a market cap of $1.15 billion and a P/E ratio of -1.14. The stock’s fifty day simple moving average is $33.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 33.12 and a quick ratio of 33.12.

Avalyn Pharma (NASDAQ:AVLN) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.05. As a group, analysts expect that Avalyn Pharma Inc. will post -3.81 EPS for the current year.

Institutional Investors Weigh In On Avalyn Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVLN. Montanova Capital LLC acquired a new position in shares of Avalyn Pharma in the 2nd quarter valued at about $82,402,000. Bank of New York Mellon Corp acquired a new stake in Avalyn Pharma during the 2nd quarter worth approximately $1,321,000. Braidwell LP acquired a new stake in Avalyn Pharma during the 2nd quarter worth approximately $26,382,000. Finally, State Street Corp purchased a new position in Avalyn Pharma in the second quarter valued at approximately $10,501,000.

Avalyn Pharma Company Profile

Avalyn Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for serious fibrotic lung diseases. The company’s primary focus is pulmonary fibrosis, a group of progressive conditions in which scar tissue builds up in the lungs and impairs breathing.

Avalyn’s lead product candidate is AP01, an inhaled formulation of pirfenidone being developed for the treatment of idiopathic pulmonary fibrosis and other forms of pulmonary fibrosis. By delivering therapy directly to the lungs, Avalyn aims to provide a treatment option that may improve local drug exposure while potentially reducing some of the tolerability challenges associated with oral antifibrotic therapies.

The company’s development programs are centered on advancing inhaled medicines through clinical testing and, if successful, regulatory review.