Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Down 23.6% in August

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 43,100 shares, a drop of 23.6% from the August 15th total of 56,400 shares. Approximately 5.0% of the company’s shares are short sold. Based on an average daily volume of 17,800 shares, the days-to-cover ratio is currently 2.4 days.

Avalo Therapeutics Stock Performance

NASDAQ:AVTX traded down $0.01 on Friday, hitting $8.98. 14,396 shares of the stock were exchanged, compared to its average volume of 259,223. Avalo Therapeutics has a 52 week low of $3.95 and a 52 week high of $71.04. The company’s 50-day moving average price is $10.25 and its 200 day moving average price is $10.91.

Avalo Therapeutics (NASDAQ:AVTX) last announced its quarterly earnings data on Monday, August 12th. The company reported ($14.07) earnings per share for the quarter, missing the consensus estimate of ($6.70) by ($7.37). Avalo Therapeutics had a negative net margin of 1,639.50% and a negative return on equity of 306.52%. Equities analysts predict that Avalo Therapeutics will post -7.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC acquired a new position in Avalo Therapeutics in the first quarter valued at about $218,000. Ikarian Capital LLC bought a new stake in Avalo Therapeutics during the 1st quarter worth approximately $1,015,000. Finally, Logos Global Management LP acquired a new stake in Avalo Therapeutics during the 2nd quarter worth approximately $6,722,000. 87.06% of the stock is currently owned by institutional investors.

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.