Avalo Therapeutics (NASDAQ:AVTX) Posts Earnings Results, Misses Expectations By $0.52 EPS

Avalo Therapeutics (NASDAQ:AVTX) posted its quarterly earnings data on Thursday. The company reported ($2.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.52), Zacks reports.

Avalo Therapeutics Trading Down 2.4%

NASDAQ:AVTX traded down $0.37 during trading hours on Friday, reaching $15.05. 623,052 shares of the company traded hands, compared to its average volume of 357,276. The business’s 50-day moving average price is $13.61 and its two-hundred day moving average price is $8.50. Avalo Therapeutics has a 1 year low of $3.39 and a 1 year high of $19.41. The stock has a market capitalization of $197.94 million, a P/E ratio of -0.83 and a beta of 0.94.

Hedge Funds Weigh In On Avalo Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Boothbay Fund Management LLC bought a new stake in shares of Avalo Therapeutics in the second quarter worth $56,000. Geode Capital Management LLC grew its stake in shares of Avalo Therapeutics by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 110,460 shares of the company’s stock valued at $552,000 after purchasing an additional 2,648 shares during the period. Bank of America Corp DE increased 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 purchasing an additional 400,898 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Avalo Therapeutics by 314.9% in the 3rd quarter. Vanguard Group Inc. now owns 692,637 shares of the company’s stock worth $8,803,000 after purchasing an additional 525,696 shares during the period. Finally, Nantahala Capital Management LLC lifted its stake in shares of Avalo Therapeutics by 10.6% in the 2nd quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company’s stock worth $4,965,000 after purchasing an additional 95,000 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVTX. Weiss Ratings restated a “sell (d-)” rating on shares of Avalo Therapeutics in a research report on Tuesday, October 14th. TD Cowen began coverage on shares of Avalo Therapeutics in a report on Friday, September 5th. They issued a “buy” rating on the stock. BTIG Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of Avalo Therapeutics in a report on Monday, September 29th. Cowen started coverage on Avalo Therapeutics in a research note on Friday, September 5th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald began coverage on Avalo Therapeutics in a report on Friday, August 15th. They issued an “overweight” rating for the company. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Avalo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price 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.