Avalo Therapeutics (NASDAQ:AVTX) Earns Outperform Rating from Wedbush

Avalo Therapeutics (NASDAQ:AVTX)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They presently have a $18.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 123.21% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of Avalo Therapeutics in a report on Friday, February 28th. They issued an “overweight” rating and a $48.00 target price on the stock. BTIG Research started coverage on Avalo Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Avalo Therapeutics Stock Performance

NASDAQ:AVTX traded up $0.07 during midday trading on Thursday, reaching $8.06. The stock had a trading volume of 17,080 shares, compared to its average volume of 76,721. The firm has a fifty day simple moving average of $7.42 and a two-hundred day simple moving average of $9.11. Avalo Therapeutics has a 12-month low of $4.43 and a 12-month high of $34.46.

Institutional Trading of Avalo Therapeutics

A number of institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in shares of Avalo Therapeutics during the 3rd quarter worth $9,186,000. Ikarian Capital LLC raised its position in Avalo Therapeutics by 1,673.0% during the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock worth $9,218,000 after acquiring an additional 915,629 shares during the last quarter. Affinity Asset Advisors LLC raised its position in Avalo Therapeutics by 1,123.9% during the fourth quarter. Affinity Asset Advisors LLC now owns 550,765 shares of the company’s stock worth $4,092,000 after acquiring an additional 505,765 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Avalo Therapeutics in the fourth quarter valued at about $817,000. Finally, Geode Capital Management LLC grew its position in shares of Avalo Therapeutics by 937.0% in the fourth quarter. Geode Capital Management LLC now owns 104,853 shares of the company’s stock valued at $779,000 after purchasing an additional 94,742 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other 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.