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

Avalo Therapeutics, Inc. (NASDAQ:AVTX) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 22,900 shares, an increase of 340.4% from the November 30th total of 5,200 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 74,100 shares, the short-interest ratio is presently 0.3 days.

Avalo Therapeutics Stock Down 8.4 %

Shares of NASDAQ AVTX traded down $0.76 during mid-day trading on Friday, hitting $8.33. The stock had a trading volume of 102,847 shares, compared to its average volume of 203,823. The business has a 50 day moving average price of $10.99 and a two-hundred day moving average price of $10.66. Avalo Therapeutics has a 1 year low of $3.95 and a 1 year high of $34.46.

Hedge Funds Weigh In On Avalo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of AVTX. Ikarian Capital LLC grew its stake in shares of Avalo Therapeutics by 1,673.0% in the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock worth $9,218,000 after purchasing an additional 915,629 shares during the last quarter. RA Capital Management L.P. purchased a new stake in Avalo Therapeutics in the 3rd quarter worth approximately $9,186,000. Logos Global Management LP bought a new stake in shares of Avalo Therapeutics in the 2nd quarter worth approximately $6,722,000. Finally, Affinity Asset Advisors LLC increased its stake in shares of Avalo Therapeutics by 350.0% during the second quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock valued at $561,000 after buying an additional 35,000 shares during the period. 87.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVTX. BTIG Research initiated coverage on shares of Avalo Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $40.00 target price on the stock. HC Wainwright began coverage on Avalo Therapeutics in a report on Thursday, October 24th. They issued a “neutral” rating on the stock.

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.