Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Significant Increase in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 202,500 shares, an increase of 264.2% from the August 31st total of 55,600 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 233,600 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 233,600 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.9% of the shares of the company are short sold.

Avalo Therapeutics Trading Up 0.3%

Shares of NASDAQ AVTX opened at $13.00 on Friday. The company’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $6.79. Avalo Therapeutics has a 52-week low of $3.39 and a 52-week high of $16.00.

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

Hedge Funds Weigh In On Avalo Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in shares of Avalo Therapeutics in the second quarter worth about $55,000. Boothbay Fund Management LLC purchased a new position in shares of Avalo Therapeutics in the second quarter worth about $56,000. ADAR1 Capital Management LLC purchased a new position in shares of Avalo Therapeutics in the first quarter worth about $80,000. Northern Trust Corp purchased a new position in shares of Avalo Therapeutics in the fourth quarter worth about $168,000. Finally, Geode Capital Management LLC lifted its stake in shares of Avalo Therapeutics by 2.5% in the second quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock worth $552,000 after buying an additional 2,648 shares in the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on AVTX shares. Cowen started coverage on shares of Avalo Therapeutics in a report on Friday, September 5th. They issued a “buy” rating for the company. HC Wainwright upped their price target on Avalo Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. BTIG Research reiterated a “buy” rating and set a $40.00 price target on shares of Avalo Therapeutics in a research report on Monday. Cantor Fitzgerald began coverage on Avalo Therapeutics in a research report on Friday, August 15th. They set an “overweight” rating on the stock. Finally, TD Cowen began coverage on Avalo Therapeutics in a research report on Friday, September 5th. They set a “buy” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $31.67.

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.