HC Wainwright Begins Coverage on Avalo Therapeutics (NASDAQ:AVTX)

HC Wainwright initiated coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The brokerage issued a neutral rating on the stock.

Avalo Therapeutics Stock Performance

Avalo Therapeutics stock opened at $14.44 on Thursday. Avalo Therapeutics has a 1 year low of $3.95 and a 1 year high of $34.46. The firm’s 50 day moving average price is $9.47 and its two-hundred day moving average price is $11.26.

Avalo Therapeutics (NASDAQ:AVTX) last issued its earnings results on Monday, August 12th. The company reported ($14.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.70) by ($7.37). Equities research analysts forecast that Avalo Therapeutics will post -7.78 earnings per share for the current year.

Institutional Trading of Avalo Therapeutics

Large investors have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC grew its holdings in shares of Avalo Therapeutics by 350.0% during 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 stake in Avalo Therapeutics during the 2nd quarter worth about $6,722,000. Finally, Ikarian Capital LLC purchased a new position in Avalo Therapeutics during the 1st quarter valued at about $1,015,000. 87.06% of the stock is owned by institutional investors and hedge funds.

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.