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

Avalo Therapeutics, Inc. (NASDAQ:AVTX) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 10,100 shares, a drop of 79.5% from the October 15th total of 49,200 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 28,000 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Affinity Asset Advisors LLC raised its stake in shares of Avalo Therapeutics by 350.0% during the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock worth $561,000 after purchasing an additional 35,000 shares during the period. Logos Global Management LP purchased a new position in Avalo Therapeutics during the second quarter valued at $6,722,000. Finally, Ikarian Capital LLC bought a new stake in Avalo Therapeutics during the 1st quarter valued at about $1,015,000. Institutional investors own 87.06% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright initiated coverage on shares of Avalo Therapeutics in a report on Thursday, October 24th. They set a “neutral” rating for the company.

Avalo Therapeutics Price Performance

Shares of NASDAQ:AVTX traded down $0.44 on Tuesday, reaching $12.81. The company’s stock had a trading volume of 240,860 shares, compared to its average volume of 215,886. The stock’s 50-day moving average is $10.43 and its two-hundred day moving average is $11.15. Avalo Therapeutics has a 52-week low of $3.95 and a 52-week high of $34.46.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($14.07) EPS for the quarter, missing the consensus estimate of ($6.70) by ($7.37). On average, analysts predict that Avalo Therapeutics will post -21.63 EPS for the current year.

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.