Short Interest in Avalo Therapeutics, Inc. (NASDAQ:AVTX) Drops By 8.9%

Posted by Doug Wharley on Oct 15th, 2024

Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Free Report) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 54,200 shares, a drop of 8.9% from the September 15th total of 59,500 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 17,700 shares, the days-to-cover ratio is currently 3.1 days.

Avalo Therapeutics Price Performance

Shares of NASDAQ AVTX opened at $9.29 on Tuesday. The business has a 50-day simple moving average of $9.22 and a two-hundred day simple moving average of $11.52. Avalo Therapeutics has a fifty-two week low of $3.95 and a fifty-two week high of $42.34.

Avalo Therapeutics (NASDAQ:AVTX – Get Free Report) last issued its quarterly earnings results 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). As a group, equities research analysts forecast that Avalo Therapeutics will post -7.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avalo Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC acquired a new stake in shares of Avalo Therapeutics during the first quarter worth about $218,000. Ikarian Capital LLC acquired a new stake in shares of Avalo Therapeutics during the first quarter worth about $1,015,000. Finally, Logos Global Management LP acquired a new stake in shares of Avalo Therapeutics during the second quarter worth about $6,722,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

(Get Free Report)

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.