Avalyn Pharma (NASDAQ:AVLN) Trading 7.4% Higher – Here’s What Happened

Avalyn Pharma Inc. (NASDAQ:AVLN)’s stock price traded up 7.4% on Friday . The stock traded as high as $28.99 and last traded at $28.99. 8,364 shares traded hands during trading, a decline of 97% from the average session volume of 318,232 shares. The stock had previously closed at $26.99.

Wall Street Analyst Weigh In

AVLN has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Avalyn Pharma in a research note on Tuesday, May 26th. They set an “overweight” rating and a $53.00 price objective for the company. Wall Street Zen raised shares of Avalyn Pharma to a “hold” rating in a research note on Saturday, May 9th. Guggenheim initiated coverage on shares of Avalyn Pharma in a research note on Monday, May 25th. They set a “buy” rating and a $80.00 price objective for the company. Evercore initiated coverage on shares of Avalyn Pharma in a research note on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Avalyn Pharma in a research note on Monday, May 25th. They set a “buy” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $59.00.

Avalyn Pharma Stock Up 4.7%

Avalyn Pharma (NASDAQ:AVLN) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($21.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($16.38) by ($5.45).

Insider Activity at Avalyn Pharma

In other Avalyn Pharma news, major shareholder Sr One Capital Management, Llc acquired 555,555 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the insider owned 2,186,562 shares in the company, valued at $39,358,116. The trade was a 34.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jill Carroll acquired 277,778 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $5,000,004.00. Following the transaction, the director owned 2,186,562 shares of the company’s stock, valued at approximately $39,358,116. This represents a 14.55% increase in their position. The disclosure for this purchase is available in the SEC filing.

Avalyn Pharma Company Profile

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.