Key Points
- Avalo Therapeutics CFO Christopher Sullivan sold 12,394 shares for approximately $202,394 at an average price of $16.33, reducing his position by 23.7% to 39,900 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Avalo reported quarterly EPS of -$0.83, missing the analyst consensus estimate of -$0.58; analysts expect full-year EPS of approximately -$2.69.
- Institutional investors own 87.06% of the company, while analysts maintain a consensus “Moderate Buy” rating with a $45.10 target price, despite some recent rating downgrades.
Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) CFO Christopher Sullivan sold 12,394 shares of the business's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $16.33, for a total transaction of $202,394.02. Following the completion of the sale, the chief financial officer owned 39,900 shares of the company's stock, valued at approximately $651,567. This represents a 23.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Christopher Ryan Sullivan also recently made the following trade(s):
- On Thursday, September 10th, Christopher Sullivan sold 10,185 shares of Avalo Therapeutics stock. The shares were sold at an average price of $17.62, for a total transaction of $179,459.70.
Avalo Therapeutics Stock Performance
NASDAQ AVTX opened at $16.57 on Friday. The company has a market cap of $888.65 million, a PE ratio of -3.79 and a beta of 0.78. The firm's 50 day moving average price is $18.76 and its 200-day moving average price is $17.04. Avalo Therapeutics, Inc. has a 52-week low of $10.70 and a 52-week high of $24.27.
Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.83) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.25). On average, analysts forecast that Avalo Therapeutics, Inc. will post -2.69 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Avalo Therapeutics
Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its stake in shares of Avalo Therapeutics by 624.9% in the second quarter. Squarepoint Ops LLC now owns 589,245 shares of the company's stock worth $10,889,000 after purchasing an additional 507,960 shares during the last quarter. Seven Fleet Capital Management LP raised its stake in shares of Avalo Therapeutics by 34.3% during the 2nd quarter. Seven Fleet Capital Management LP now owns 770,765 shares of the company's stock valued at $14,244,000 after buying an additional 196,882 shares during the last quarter. Braidwell LP purchased a new position in shares of Avalo Therapeutics during the 2nd quarter valued at about $30,107,000. Wellington Management Group LLP acquired a new position in shares of Avalo Therapeutics in the 2nd quarter valued at about $1,945,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Avalo Therapeutics in the second quarter worth about $1,897,000. Institutional investors and hedge funds own 87.06% of the company's stock.
Analyst Ratings Changes
AVTX has been the subject of several recent research reports. Weiss Ratings raised Avalo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Avalo Therapeutics in a research report on Wednesday. Bank of America started coverage on Avalo Therapeutics in a research report on Friday, June 12th. They set a "buy" rating and a $35.00 price objective on the stock. Wall Street Zen lowered Avalo Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Finally, HC Wainwright reduced their target price on shares of Avalo Therapeutics from $35.00 to $30.00 and set a "buy" rating for the company in a report on Friday, August 7th. Twelve equities 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.10.
Read Our Latest Stock Report on AVTX
About Avalo Therapeutics
(
Get Free Report)
Avalo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated and inflammatory diseases. The company's research strategy centers on treatments intended to address conditions in which abnormal immune system activity contributes to disease progression.
Avalo's lead product candidate is AVTX-009, an investigational fully human monoclonal antibody designed to inhibit interleukin-1 beta (IL-1β), a signaling protein involved in inflammation.
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