Avalyn Pharma (NASDAQ:AVLN) Sets New 12-Month High – Here’s What Happened

Avalyn Pharma Inc. (NASDAQ:AVLN) reached a new 52-week high during trading on Monday . The company traded as high as $32.36 and last traded at $31.72, with a volume of 77055 shares traded. The stock had previously closed at $31.45.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research raised shares of Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Jefferies Financial Group assumed coverage on Avalyn Pharma in a report on Monday, May 25th. They issued a “buy” rating and a $52.00 price target on the stock. Evercore assumed coverage on Avalyn Pharma in a research report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price objective for the company. Guggenheim started coverage on Avalyn Pharma in a research note on Monday, May 25th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Avalyn Pharma in a report on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Avalyn Pharma has an average rating of “Buy” and an average price target of $59.00.

Avalyn Pharma Stock Down 2.1%

Avalyn Pharma (NASDAQ:AVLN) last released its earnings results on Wednesday, June 3rd. The company reported ($21.83) earnings per share for the quarter, missing the consensus estimate of ($16.38) by ($5.45).

Insiders Place Their Bets

In other Avalyn Pharma news, Director Jill Carroll acquired 277,778 shares of Avalyn Pharma stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $18.00 per share, with a total value of $5,000,004.00. Following the purchase, the director owned 2,186,562 shares in the company, valued at approximately $39,358,116. The trade was a 14.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the insider directly owned 2,186,562 shares in the company, valued at approximately $39,358,116. This trade represents a 34.06% increase in their position. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.