Avalo Therapeutics (NASDAQ:AVTX) Now Covered by Analysts at BTIG Research

Stock analysts at BTIG Research assumed coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. BTIG Research’s target price points to a potential upside of 348.93% from the company’s previous close.

Separately, HC Wainwright started coverage on shares of Avalo Therapeutics in a research note on Thursday, October 24th. They set a “neutral” rating on the stock.

Avalo Therapeutics Trading Down 1.9 %

Shares of AVTX stock opened at $8.91 on Thursday. The firm’s 50-day simple moving average is $11.13 and its 200-day simple moving average is $10.73. Avalo Therapeutics has a 1-year low of $3.95 and a 1-year high of $34.46.

Institutional Investors Weigh In On Avalo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC lifted its stake in shares of Avalo Therapeutics by 350.0% in the 2nd 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 in the last quarter. Logos Global Management LP purchased a new position in Avalo Therapeutics in the second quarter valued at approximately $6,722,000. RA Capital Management L.P. purchased a new position in Avalo Therapeutics in the third quarter valued at approximately $9,186,000. Finally, Ikarian Capital LLC lifted its position in Avalo Therapeutics by 1,673.0% during the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock valued at $9,218,000 after buying an additional 915,629 shares in the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.

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.