Avalyn Pharma Inc. (NASDAQ:AVLN) Sees Large Growth in Short Interest

Avalyn Pharma Inc. (NASDAQ:AVLN) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 896,139 shares, a growth of 59.3% from the May 14th total of 562,374 shares. Based on an average trading volume of 278,129 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.0% of the shares of the company are sold short.

Insider Buying and Selling at Avalyn Pharma

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

Avalyn Pharma Trading Down 2.4%

Shares of NASDAQ AVLN opened at $28.07 on Wednesday. Avalyn Pharma has a fifty-two week low of $24.15 and a fifty-two week high of $32.22.

Avalyn Pharma (NASDAQ:AVLN) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($21.83) earnings per share for the quarter, missing the consensus estimate of ($16.38) by ($5.45).

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Avalyn Pharma in a research note on Monday, May 25th. They issued a “buy” rating and a $52.00 price target for the company. Wall Street Zen upgraded Avalyn Pharma to a “hold” rating in a research note on Saturday, May 9th. Guggenheim assumed coverage on Avalyn Pharma in a research note on Monday, May 25th. They issued a “buy” rating and a $80.00 price target for the company. Zacks Research upgraded Avalyn Pharma to a “hold” rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley assumed coverage on Avalyn Pharma in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $53.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $59.00.

About Avalyn Pharma

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.