Avalo Therapeutics (NASDAQ:AVTX) Releases Earnings Results, Beats Expectations By $0.25 EPS

Avalo Therapeutics (NASDAQ:AVTX) posted its quarterly earnings data on Thursday. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.25, FiscalAI reports.

Avalo Therapeutics Trading Down 6.2%

Shares of NASDAQ AVTX traded down $0.44 during midday trading on Thursday, hitting $6.63. The company’s stock had a trading volume of 1,257,791 shares, compared to its average volume of 2,925,612. The stock has a fifty day moving average price of $13.74 and a 200 day moving average price of $15.88. Avalo Therapeutics has a one year low of $6.53 and a one year high of $24.27. The firm has a market capitalization of $355.57 million, a price-to-earnings ratio of -1.52 and a beta of 0.75.

Insider Activity at Avalo Therapeutics

In related news, CFO Christopher Sullivan sold 12,394 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total value of $202,394.02. Following the completion of the transaction, the chief financial officer directly owned 39,900 shares of the company’s stock, valued at approximately $651,567. This trade represents a 23.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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. Corporate insiders own 4.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AVTX shares. Wall Street Zen downgraded Avalo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. BTIG Research dropped their price target on Avalo Therapeutics to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Guggenheim cut Avalo Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, October 23rd. Wedbush cut their price target on Avalo Therapeutics from $34.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Finally, Oppenheimer set a $16.00 price target on Avalo Therapeutics in a research note on Monday, October 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.