Avalo Therapeutics (NASDAQ:AVTX) Stock Price Up 6.5% – Here’s Why

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

Analysts Set New Price Targets

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

Avalo Therapeutics Stock Up 0.3 %

The company has a fifty day moving average price of $9.29 and a 200-day moving average price of $10.12.

Hedge Funds Weigh In On Avalo Therapeutics

A number of large investors have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new position in Avalo Therapeutics in the 3rd quarter worth about $9,186,000. Ikarian Capital LLC raised its holdings in Avalo Therapeutics by 1,673.0% in the 3rd 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 period. Logos Global Management LP acquired a new position in Avalo Therapeutics in the 2nd quarter worth about $6,722,000. Finally, Affinity Asset Advisors LLC raised its holdings in Avalo Therapeutics by 350.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock worth $561,000 after purchasing an additional 35,000 shares during the period. 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.