Ally Bridge Group NY LLC Purchases New Position in Avalo Therapeutics, Inc. $AVTX

Ally Bridge Group NY LLC acquired a new position in Avalo Therapeutics, Inc. (NASDAQ:AVTX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 178,100 shares of the company’s stock, valued at approximately $2,264,000. Avalo Therapeutics comprises 1.4% of Ally Bridge Group NY LLC’s portfolio, making the stock its 18th largest position. Ally Bridge Group NY LLC owned about 0.98% of Avalo Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVTX. Ameriprise Financial Inc. purchased a new stake in Avalo Therapeutics during the 3rd quarter valued at $2,714,000. Caligan Partners LP purchased a new position in shares of Avalo Therapeutics in the third quarter worth $10,592,000. Orbimed Advisors LLC raised its stake in shares of Avalo Therapeutics by 39.5% in the third quarter. Orbimed Advisors LLC now owns 1,349,300 shares of the company’s stock worth $17,150,000 after purchasing an additional 382,300 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Avalo Therapeutics during the third quarter valued at $10,390,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Avalo Therapeutics by 282.0% during the third quarter. Two Sigma Investments LP now owns 49,242 shares of the company’s stock valued at $626,000 after purchasing an additional 36,353 shares in the last quarter. 87.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AVTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avalo Therapeutics in a research report on Friday, January 9th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Avalo Therapeutics in a research report on Thursday, January 15th. Mizuho upgraded shares of Avalo Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Guggenheim assumed coverage on shares of Avalo Therapeutics in a report on Monday, February 2nd. They set a “buy” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Avalo Therapeutics Price Performance

NASDAQ AVTX opened at $15.80 on Friday. The stock has a market capitalization of $292.46 million, a price-to-earnings ratio of -2.95 and a beta of 0.84. Avalo Therapeutics, Inc. has a 1-year low of $3.39 and a 1-year high of $20.72. The business’s fifty day moving average price is $15.89 and its 200-day moving average price is $15.52.

Avalo Therapeutics Profile

Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.

Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.