Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Up 19.4% in April

Avalo Therapeutics, Inc. (NASDAQ:AVTXGet Rating) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,720,000 shares, an increase of 19.4% from the March 31st total of 1,440,000 shares. Based on an average daily trading volume, of 383,500 shares, the short-interest ratio is currently 4.5 days. Approximately 1.5% of the shares of the stock are short sold.

Avalo Therapeutics stock opened at $0.42 on Wednesday. The firm’s 50 day simple moving average is $0.66 and its 200-day simple moving average is $1.28. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.11 and a quick ratio of 3.11. Avalo Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.70.

Avalo Therapeutics (NASDAQ:AVTXGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Avalo Therapeutics had a negative return on equity of 285.61% and a negative net margin of 1,563.10%. On average, analysts forecast that Avalo Therapeutics will post -0.56 EPS for the current year.

In related news, Director Armistice Capital, Llc bought 150,000 shares of the stock in a transaction on Thursday, February 17th. The shares were purchased at an average price of $0.81 per share, with a total value of $121,500.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have acquired 834,000 shares of company stock worth $598,610. 45.70% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Leo Brokerage LLC purchased a new position in shares of Avalo Therapeutics in the first quarter worth approximately $45,000. BlackRock Inc. boosted its holdings in shares of Avalo Therapeutics by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,802,010 shares of the company’s stock worth $6,463,000 after purchasing an additional 85,067 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Avalo Therapeutics by 3,794.2% during the fourth quarter. Wells Fargo & Company MN now owns 41,824 shares of the company’s stock worth $72,000 after purchasing an additional 40,750 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Avalo Therapeutics by 1.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 685,264 shares of the company’s stock worth $1,165,000 after purchasing an additional 12,600 shares during the period. Finally, Stonepine Capital Management LLC boosted its holdings in shares of Avalo Therapeutics by 77.7% during the fourth quarter. Stonepine Capital Management LLC now owns 1,510,095 shares of the company’s stock worth $2,567,000 after purchasing an additional 660,095 shares during the period. 77.15% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on AVTX. Zacks Investment Research raised shares of Avalo Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 7th. Jefferies Financial Group cut shares of Avalo Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $5.00 to $0.75 in a research note on Thursday, March 3rd. Royal Bank of Canada lowered their price objective on shares of Avalo Therapeutics from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Avalo Therapeutics in a research note on Friday, January 7th.

Avalo Therapeutics Company Profile (Get Rating)

Avalo Therapeutics, Inc, a clinical-stage precision medicine company, discovers, develops, and commercializes targeted therapeutics for patients with unmet clinical need in immunology, immuno-oncology, and rare genetic diseases. It develops AVTX-002, a fully human anti-LIGHT monoclonal antibody, which is under Phase II clinical trial for the treatment of non-eosinophilic asthma, as well as inflammatory bowel disease, including moderate to severe Crohn's disease, and ulcerative colitis; and Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome.

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