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

Shares of Avalo Therapeutics, Inc. (NASDAQ:AVTX) rose 6.5% during mid-day trading 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.

Analysts Set New Price Targets

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

Avalo Therapeutics Price Performance

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Asset Advisors LLC grew its stake in Avalo Therapeutics by 350.0% during the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock worth $561,000 after buying an additional 35,000 shares during the last quarter. Logos Global Management LP purchased a new position in Avalo Therapeutics during the 2nd quarter worth $6,722,000. RA Capital Management L.P. purchased a new position in Avalo Therapeutics during the 3rd quarter worth $9,186,000. Finally, Ikarian Capital LLC grew its stake 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 buying an additional 915,629 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other 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.