Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Update
by Renee Jackson · The Cerbat GemAvalo Therapeutics, Inc. (NASDAQ:AVTX – Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 5,542,400 shares, a growth of 35.5% from the March 15th total of 4,089,262 shares. Based on an average daily volume of 892,659 shares, the days-to-cover ratio is currently 6.2 days. Approximately 25.1% of the company’s shares are short sold.
Avalo Therapeutics Price Performance
Avalo Therapeutics stock opened at $13.90 on Wednesday. The stock’s 50-day moving average is $15.40 and its 200-day moving average is $16.19. The company has a market cap of $371.27 million, a price-to-earnings ratio of -2.43 and a beta of 0.93. Avalo Therapeutics has a 12 month low of $3.39 and a 12 month high of $20.72.
Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last issued its earnings results on Monday, March 23rd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.54) by $1.17. The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of ($0.21) million. Research analysts anticipate that Avalo Therapeutics will post -19.07 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on AVTX shares. Citizens Jmp assumed coverage on shares of Avalo Therapeutics in a report on Monday, April 6th. They set an “outperform” rating and a $52.00 price objective on the stock. Wolfe Research started coverage on shares of Avalo Therapeutics in a report on Thursday, April 9th. They issued an “outperform” rating and a $48.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avalo Therapeutics in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Avalo Therapeutics from a “strong sell” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Mizuho raised shares of Avalo Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.
Check Out Our Latest Analysis on AVTX
Insiders Place Their Bets
In related news, insider Mittie Doyle sold 3,970 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $18.01, for a total transaction of $71,499.70. Following the transaction, the insider directly owned 3,622 shares in the company, valued at approximately $65,232.22. This represents a 52.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher Ryan Sullivan sold 7,980 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $17.15, for a total value of $136,857.00. Following the completion of the sale, the chief financial officer directly owned 17,338 shares in the company, valued at approximately $297,346.70. The trade was a 31.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 46,100 shares of company stock valued at $764,724. Company insiders own 0.25% of the company’s stock.
Institutional Investors Weigh In On Avalo Therapeutics
Institutional investors have recently bought and sold shares of the business. Patient Square Capital LP purchased a new position in shares of Avalo Therapeutics in the 3rd quarter valued at $1,271,000. Cantor Fitzgerald L. P. purchased a new stake in Avalo Therapeutics during the 3rd quarter worth $1,083,000. Boothbay Fund Management LLC boosted its position in Avalo Therapeutics by 1,916.6% during the 3rd quarter. Boothbay Fund Management LLC now owns 228,297 shares of the company’s stock worth $2,902,000 after purchasing an additional 216,976 shares during the period. Ally Bridge Group NY LLC acquired a new stake in Avalo Therapeutics in the 3rd quarter valued at $2,264,000. Finally, Boxer Capital Management LLC acquired a new stake in Avalo Therapeutics in the 3rd quarter valued at $1,589,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.
About Avalo Therapeutics
Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.
Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.