Avalo Therapeutics (NASDAQ:AVTX) Earns Overweight Rating from Analysts at Piper Sandler

Equities research analysts at Piper Sandler initiated coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a report released on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $48.00 price target on the stock.

Other analysts have also issued research reports about the company. Wedbush started coverage on Avalo Therapeutics in a research note on Friday, February 21st. They issued an “outperform” rating and a $18.00 price objective on the stock. BTIG Research started coverage on Avalo Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $35.33.

Avalo Therapeutics Stock Performance

Avalo Therapeutics stock opened at $6.60 on Friday. The company’s 50-day moving average is $7.63 and its 200-day moving average is $9.29. Avalo Therapeutics has a fifty-two week low of $4.28 and a fifty-two week high of $34.46.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. BVF Inc. IL boosted its stake in Avalo Therapeutics by 7.2% in the 4th quarter. BVF Inc. IL now owns 1,036,679 shares of the company’s stock valued at $7,703,000 after purchasing an additional 69,679 shares during the period. Ikarian Capital LLC boosted its position in shares of Avalo Therapeutics by 1,673.0% in the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock valued at $9,218,000 after acquiring an additional 915,629 shares during the period. RA Capital Management L.P. acquired a new position in shares of Avalo Therapeutics in the third quarter valued at about $9,186,000. Affinity Asset Advisors LLC increased its position in Avalo Therapeutics by 1,123.9% during the fourth quarter. Affinity Asset Advisors LLC now owns 550,765 shares of the company’s stock worth $4,092,000 after acquiring an additional 505,765 shares during the period. Finally, Velan Capital Investment Management LP acquired a new stake in Avalo Therapeutics in the 4th quarter worth about $817,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

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.