Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Large Drop in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 55,600 shares, a decline of 38.4% from the August 15th total of 90,200 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 194,400 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 194,400 shares, the short-interest ratio is currently 0.3 days. Approximately 0.5% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Avalo Therapeutics in a report on Friday, August 15th. They set an “overweight” rating on the stock. TD Cowen assumed coverage on Avalo Therapeutics in a report on Friday, September 5th. They set a “buy” rating on the stock. Cowen assumed coverage on Avalo Therapeutics in a report on Friday, September 5th. They set a “buy” rating on the stock. Finally, HC Wainwright upgraded Avalo Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, June 2nd. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $30.00.

Hedge Funds Weigh In On Avalo Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Avalo Therapeutics in the 2nd quarter worth approximately $55,000. Boothbay Fund Management LLC purchased a new position in Avalo Therapeutics in the 2nd quarter worth approximately $56,000. ADAR1 Capital Management LLC purchased a new position in Avalo Therapeutics in the 1st quarter worth approximately $80,000. Northern Trust Corp purchased a new position in Avalo Therapeutics in the 4th quarter worth approximately $168,000. Finally, Geode Capital Management LLC raised its holdings in Avalo Therapeutics by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock worth $552,000 after acquiring an additional 2,648 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Avalo Therapeutics Price Performance

Shares of AVTX opened at $10.14 on Tuesday. The business’s 50 day moving average price is $8.26 and its 200-day moving average price is $6.38. Avalo Therapeutics has a 52 week low of $3.39 and a 52 week high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.49). On average, analysts forecast that Avalo Therapeutics will post -19.07 EPS for the current year.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.