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

Equities researchers at Wedbush began coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 149.83% from the stock’s current price.

A number of other brokerages have also recently issued reports on AVTX. HC Wainwright assumed coverage on shares of Avalo Therapeutics in a research note on Thursday, October 24th. They issued a “neutral” rating on the stock. BTIG Research assumed coverage on shares of Avalo Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $40.00 target price on the stock.

Avalo Therapeutics Price Performance

Shares of NASDAQ:AVTX opened at $7.21 on Friday. The company’s 50 day simple moving average is $7.86 and its 200 day simple moving average is $9.42. Avalo Therapeutics has a 1 year low of $4.20 and a 1 year high of $34.46.

Institutional Investors Weigh In On Avalo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ikarian Capital LLC boosted its holdings 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 purchasing an additional 915,629 shares during the last quarter. RA Capital Management L.P. purchased a new position in Avalo Therapeutics in the third quarter valued at about $9,186,000. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 94,742 shares during the last quarter. Bank of Montreal Can purchased a new position in Avalo Therapeutics in the fourth quarter valued at about $446,000. Finally, Walleye Capital LLC purchased a new position in Avalo Therapeutics in the fourth quarter valued at about $145,000. 87.06% of the stock is owned by institutional investors.

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.