Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Up 512.3% in September

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 1,240,000 shares, an increase of 512.3% from the September 15th total of 202,500 shares. Based on an average trading volume of 318,400 shares, the short-interest ratio is currently 3.9 days. Approximately 11.7% of the shares of the stock are sold short. Approximately 11.7% of the shares of the stock are sold short. Based on an average trading volume of 318,400 shares, the short-interest ratio is currently 3.9 days.

Avalo Therapeutics Stock Up 0.7%

Shares of AVTX stock opened at $14.00 on Friday. The stock’s fifty day moving average price is $11.15 and its two-hundred day moving average price is $7.20. Avalo Therapeutics has a fifty-two week low of $3.39 and a fifty-two week high of $16.00.

Avalo Therapeutics (NASDAQ:AVTX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.43) by ($0.49). As a group, analysts forecast that Avalo Therapeutics will post -19.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVTX. HC Wainwright raised their price objective on Avalo Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Cowen began coverage on Avalo Therapeutics in a report on Friday, September 5th. They issued a “buy” rating on the stock. Cantor Fitzgerald began coverage on Avalo Therapeutics in a report on Friday, August 15th. They issued an “overweight” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avalo Therapeutics in a report on Tuesday. Finally, TD Cowen began coverage on Avalo Therapeutics in a report on Friday, September 5th. They issued a “buy” rating on the stock. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Institutional Investors Weigh In On Avalo Therapeutics

Several hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC boosted its holdings in shares of Avalo Therapeutics by 10.6% during the 2nd quarter. Nantahala Capital Management LLC now owns 995,000 shares of the company’s stock valued at $4,965,000 after acquiring an additional 95,000 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Avalo Therapeutics by 19.3% during the 1st quarter. Affinity Asset Advisors LLC now owns 657,154 shares of the company’s stock valued at $5,264,000 after acquiring an additional 106,389 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 acquiring an additional 400,898 shares in the last quarter. RWA Wealth Partners LLC acquired a new stake in shares of Avalo Therapeutics during the 1st quarter valued at $2,505,000. Finally, Velan Capital Investment Management LP boosted its holdings in shares of Avalo Therapeutics by 38.4% during the 2nd quarter. Velan Capital Investment Management LP now owns 154,972 shares of the company’s stock valued at $773,000 after acquiring an additional 43,000 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s 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.