Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Significant Growth in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 55,800 shares, a growth of 176.2% from the December 31st total of 20,200 shares. Based on an average daily trading volume, of 96,900 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.7% of the company’s shares are short sold.

Avalo Therapeutics Price Performance

Shares of NASDAQ AVTX traded up $0.30 during midday trading on Thursday, reaching $7.90. The company’s stock had a trading volume of 45,761 shares, compared to its average volume of 84,603. Avalo Therapeutics has a fifty-two week low of $4.01 and a fifty-two week high of $34.46. The stock has a 50 day simple moving average of $8.47 and a 200-day simple moving average of $9.84.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HC Wainwright initiated coverage on shares of Avalo Therapeutics in a report on Thursday, October 24th. They issued a “neutral” rating on the stock. BTIG Research started coverage on shares of Avalo Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $40.00 price objective for the company.

Hedge Funds Weigh In On Avalo Therapeutics

A hedge fund recently bought a new stake in Avalo Therapeutics stock. RA Capital Management L.P. bought a new position in shares of Avalo Therapeutics, Inc. (NASDAQ:AVTX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 967,000 shares of the company’s stock, valued at approximately $9,186,000. RA Capital Management L.P. owned about 93.88% of Avalo Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Company Profile

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.