Avalo Therapeutics (NASDAQ:AVTX) Hits New 1-Year Low – What’s Next?

Avalo Therapeutics, Inc. (NASDAQ:AVTX) shares hit a new 52-week low on Tuesday. The stock traded as low as $11.21 and last traded at $11.59, with a volume of 2,221,901 shares trading hands. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

Several analysts have commented on AVTX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Avalo Therapeutics in a research report on Wednesday, September 16th. Wall Street Zen lowered shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings upgraded shares of Avalo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Guggenheim set a $48.00 price objective on shares of Avalo Therapeutics and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Avalo Therapeutics in a research note on Friday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.10.

Avalo Therapeutics Stock Performance

The firm has a 50 day moving average price of $16.83 and a 200-day moving average price of $16.82.

Avalo Therapeutics (NASDAQ:AVTX) last issued 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). On average, research analysts expect that Avalo Therapeutics, Inc. will post -2.80 earnings per share for the current year.

Insiders Place Their Bets

In other Avalo Therapeutics news, CFO Christopher Sullivan sold 12,394 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $16.33, for a total transaction of $202,394.02. Following the completion of the sale, the chief financial officer owned 39,900 shares of the company’s stock, valued at $651,567. This represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 24,258 shares of company stock valued at $415,434. 4.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Avalo Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVTX. Seven Fleet Capital Management LP lifted its stake in shares of Avalo Therapeutics by 34.3% in the second quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company’s stock worth $14,244,000 after buying an additional 196,882 shares during the last quarter. Renaissance Technologies LLC grew its stake in Avalo Therapeutics by 556.4% in the 1st quarter. Renaissance Technologies LLC now owns 120,114 shares of the company’s stock valued at $1,793,000 after buying an additional 101,814 shares during the last quarter. Wellington Management Group LLP acquired a new position in Avalo Therapeutics in the 2nd quarter valued at $1,945,000. DV Trading LLC acquired a new position in Avalo Therapeutics in the 1st quarter valued at $5,376,000. Finally, Sei Investments Co. acquired a new position in Avalo Therapeutics in the 1st quarter valued at $849,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

About Avalo Therapeutics

Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research strategy centers on addressing conditions in which abnormal immune-system activity contributes to inflammation and tissue damage.

Avalo’s lead product candidate is AVTX-009, a fully human monoclonal antibody designed to neutralize interleukin-1 beta, a pro-inflammatory cytokine involved in several inflammatory disorders. The company is evaluating AVTX-009 in clinical development for hidradenitis suppurativa, a chronic inflammatory skin condition, and may pursue additional indications in which interleukin-1 beta plays a role.

The company was formerly known as Cerecor Inc and adopted the Avalo Therapeutics name as it shifted its strategic focus toward immunology and inflammation.