Avalo Therapeutics (NASDAQ:AVTX) Stock Price Up 6.5% – Still a Buy?

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

Analyst Ratings Changes

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

Avalo Therapeutics Price Performance

The stock’s 50-day moving average price is $9.42 and its 200 day moving average price is $10.18.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVTX. Affinity Asset Advisors LLC grew its position in shares of 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 purchasing an additional 35,000 shares during the last quarter. Logos Global Management LP bought a new stake in Avalo Therapeutics during the 2nd quarter valued at approximately $6,722,000. RA Capital Management L.P. bought a new position in Avalo Therapeutics in the 3rd quarter worth approximately $9,186,000. Finally, Ikarian Capital LLC lifted its holdings in shares of 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 buying an additional 915,629 shares during the last quarter. Institutional investors 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.