Avalo Therapeutics (NASDAQ:AVTX) Releases Earnings Results, Misses Expectations By $0.07 EPS

Avalo Therapeutics (NASDAQ:AVTX – Get Rating) issued its earnings results on Thursday. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07), MarketWatch Earnings reports. Avalo Therapeutics had a negative return on equity of 285.61% and a negative net margin of 1,563.10%.

AVTX stock remained flat at $$0.33 during mid-day trading on Friday. The company’s stock had a trading volume of 1,313,622 shares, compared to its average volume of 421,069. The firm has a 50-day moving average of $0.63 and a 200 day moving average of $1.25. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 1.42. Avalo Therapeutics has a 52 week low of $0.27 and a 52 week high of $3.70.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Avalo Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 7th. Jefferies Financial Group downgraded Avalo Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $5.00 to $0.75 in a research report on Thursday, March 3rd. Oppenheimer reiterated a “buy” rating and set a $5.00 price target on shares of Avalo Therapeutics in a research report on Friday, January 7th. Finally, Royal Bank of Canada lowered their price target on Avalo Therapeutics from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd.

In other Avalo Therapeutics news, Director Armistice Capital, Llc purchased 150,000 shares of the stock in a transaction on Thursday, February 17th. The shares were bought at an average price of $0.81 per share, for a total transaction of $121,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 834,000 shares of company stock worth $598,610 in the last quarter. 45.70% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Avalo Therapeutics by 194.0% in the fourth quarter. Citigroup Inc. now owns 17,734 shares of the company’s stock worth $30,000 after acquiring an additional 11,702 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Avalo Therapeutics in the third quarter worth approximately $41,000. California State Teachers Retirement System purchased a new position in Avalo Therapeutics during the third quarter worth approximately $62,000. American International Group Inc. purchased a new position in Avalo Therapeutics during the third quarter worth approximately $63,000. Finally, Renaissance Technologies LLC lifted its position in Avalo Therapeutics by 42.8% during the fourth quarter. Renaissance Technologies LLC now owns 39,952 shares of the company’s stock worth $68,000 after buying an additional 11,971 shares in the last quarter. 77.15% of the stock is currently owned by hedge funds and other institutional investors.

About Avalo Therapeutics (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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