Avalo Therapeutics (NASDAQ:AVTX) Shares Up 6.5% – Time to Buy?

Avalo Therapeutics, Inc. (NASDAQ:AVTX) shares were up 6.5% on Thursday . The company traded as high as $7.17 and last traded at $6.73. Approximately 77,926 shares were traded during trading, a decline of 9% from the average daily volume of 85,513 shares. The stock had previously closed at $6.32.

Wall Street Analyst Weigh In

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

Avalo Therapeutics Price Performance

The business has a 50-day simple moving average of $9.42 and a two-hundred day simple moving average of $10.18.

Institutional Investors Weigh In On Avalo Therapeutics

Large investors have recently made changes to their positions in the company. Affinity Asset Advisors LLC boosted its position in Avalo Therapeutics by 350.0% in the second quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock valued at $561,000 after buying an additional 35,000 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Avalo Therapeutics in the 2nd quarter worth approximately $6,722,000. RA Capital Management L.P. acquired a new position in shares of Avalo Therapeutics in the 3rd quarter worth approximately $9,186,000. Finally, Ikarian Capital LLC grew its position in Avalo Therapeutics by 1,673.0% during the 3rd 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. Institutional investors own 87.06% of the company’s stock.

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.