Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Up 20.9% in April

Avalo Therapeutics, Inc. (NASDAQ:AVTXGet Rating) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 2,080,000 shares, an increase of 20.9% from the April 15th total of 1,720,000 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 398,800 shares, the days-to-cover ratio is currently 5.2 days.

Shares of Avalo Therapeutics stock opened at $0.31 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 5.23. The stock has a 50 day moving average price of $0.57 and a 200-day moving average price of $1.15. Avalo Therapeutics has a one year low of $0.20 and a one year high of $3.70.

Avalo Therapeutics (NASDAQ:AVTXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Avalo Therapeutics had a negative return on equity of 332.13% and a negative net margin of 1,242.16%. Sell-side analysts expect that Avalo Therapeutics will post -0.57 earnings per share for the current fiscal year.

A number of research firms have commented on AVTX. Zacks Investment Research cut shares of Avalo Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Jefferies Financial Group lowered shares of Avalo Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $5.00 to $0.75 in a research report on Thursday, March 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Avalo Therapeutics from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd.

In other Avalo Therapeutics news, Director Armistice Capital, Llc acquired 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The shares were bought at an average price of $0.81 per share, with a total value of $121,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 834,000 shares of company stock worth $598,610. 45.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Caas Capital Management LP purchased a new position in Avalo Therapeutics in the 3rd quarter worth about $26,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Avalo Therapeutics during the 3rd quarter worth $27,000. Creative Planning purchased a new position in shares of Avalo Therapeutics during the third quarter valued at $32,000. Victory Capital Management Inc. bought a new stake in shares of Avalo Therapeutics in the third quarter valued at about $34,000. Finally, Citigroup Inc. raised its holdings in shares of Avalo Therapeutics by 194.0% in the 4th quarter. Citigroup Inc. now owns 17,734 shares of the company’s stock valued at $30,000 after purchasing an additional 11,702 shares in the last quarter. Institutional investors and hedge funds own 77.15% of the company’s stock.

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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