Avalo Therapeutics (NASDAQ:AVTX) Price Target Raised to $58.00

Avalo Therapeutics (NASDAQ:AVTX) had its price target hoisted by BTIG Research from $40.00 to $58.00 in a research note released on Wednesday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avalo Therapeutics in a research note on Wednesday, April 8th. Wolfe Research began coverage on Avalo Therapeutics in a research note on Thursday, April 9th. They issued an “outperform” rating and a $48.00 target price on the stock. HC Wainwright increased their target price on Avalo Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Guggenheim began coverage on Avalo Therapeutics in a research note on Monday, February 2nd. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Citizens Jmp began coverage on Avalo Therapeutics in a research note on Monday, April 6th. They issued an “outperform” rating and a $52.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.14.

Avalo Therapeutics Stock Performance

NASDAQ:AVTX opened at $21.57 on Wednesday. The stock’s fifty day moving average is $15.61 and its 200 day moving average is $16.35. Avalo Therapeutics has a fifty-two week low of $3.39 and a fifty-two week high of $24.27. The firm has a market capitalization of $576.13 million, a PE ratio of -3.76 and a beta of 0.78.

Avalo Therapeutics (NASDAQ:AVTX) last released its earnings results on Monday, March 23rd. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $1.17. The business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of ($0.21) million. Equities analysts forecast that Avalo Therapeutics will post -3.38 EPS for the current year.

Insider Activity at Avalo Therapeutics

In related news, insider Mittie Doyle sold 3,970 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $18.01, for a total transaction of $71,499.70. Following the sale, the insider owned 3,622 shares of the company’s stock, valued at $65,232.22. This trade represents a 52.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Varki sold 75,063 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $20.17, for a total value of $1,514,020.71. Following the sale, the insider directly owned 3,634 shares in the company, valued at approximately $73,297.78. The trade was a 95.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 138,078 shares of company stock valued at $2,501,346 over the last quarter. 4.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Avalo Therapeutics

A number of institutional investors have recently added to or reduced their stakes in AVTX. Patient Square Capital LP acquired a new stake in Avalo Therapeutics in the third quarter worth about $1,271,000. Cantor Fitzgerald L. P. acquired a new stake in Avalo Therapeutics in the third quarter worth about $1,083,000. Boothbay Fund Management LLC boosted its holdings in Avalo Therapeutics by 1,916.6% in the third quarter. Boothbay Fund Management LLC now owns 228,297 shares of the company’s stock worth $2,902,000 after acquiring an additional 216,976 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in Avalo Therapeutics in the third quarter worth about $2,264,000. Finally, Aberdeen Group plc acquired a new stake in Avalo Therapeutics in the third quarter worth about $925,000. Institutional investors own 87.06% of the company’s stock.

About Avalo Therapeutics

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.