BTIG Research Reiterates “Buy” Rating for Avalo Therapeutics (NASDAQ:AVTX)

Avalo Therapeutics (NASDAQ:AVTX)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report released on Monday,Benzinga reports. They presently have a $40.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 214.71% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Cantor Fitzgerald started coverage on Avalo Therapeutics in a research report on Friday, August 15th. They set an “overweight” rating for the company. TD Cowen began coverage on shares of Avalo Therapeutics in a report on Friday, September 5th. They set a “buy” rating for the company. Cowen started coverage on shares of Avalo Therapeutics in a research note on Friday, September 5th. They issued a “buy” rating for the company. Finally, HC Wainwright raised their price target on shares of Avalo Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Avalo Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $31.67.

Avalo Therapeutics Price Performance

Shares of Avalo Therapeutics stock opened at $12.71 on Monday. The firm has a fifty day moving average price of $9.62 and a 200 day moving average price of $6.71. Avalo Therapeutics has a 1 year low of $3.39 and a 1 year high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.49). As a group, equities analysts expect that Avalo Therapeutics will post -19.07 EPS for the current year.

Hedge Funds Weigh In On Avalo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC grew its holdings in Avalo Therapeutics by 10.6% in the 2nd quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company’s stock valued at $4,965,000 after buying an additional 95,000 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in shares of Avalo Therapeutics by 19.3% during the 1st quarter. Affinity Asset Advisors LLC now owns 657,154 shares of the company’s stock worth $5,264,000 after acquiring an additional 106,389 shares during the period. Bank of America Corp DE boosted its position in shares of Avalo Therapeutics by 7,066.8% during the 2nd quarter. Bank of America Corp DE now owns 406,571 shares of the company’s stock valued at $2,029,000 after acquiring an additional 400,898 shares during the last quarter. RWA Wealth Partners LLC purchased a new stake in shares of Avalo Therapeutics in the first quarter valued at about $2,505,000. Finally, Velan Capital Investment Management LP grew its holdings in shares of Avalo Therapeutics by 38.4% in the second quarter. Velan Capital Investment Management LP now owns 154,972 shares of the company’s stock valued at $773,000 after purchasing an additional 43,000 shares during the period. 87.06% of the stock is owned by hedge funds and other institutional investors.

About Avalo Therapeutics

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.