Avalo Therapeutics (NASDAQ:AVTX) Upgraded at Oppenheimer

Avalo Therapeutics (NASDAQ:AVTX) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, MarketBeat reports.

Avalo Therapeutics Price Performance

Shares of Avalo Therapeutics stock remained flat at $12.01 on Tuesday. 36,196 shares of the stock were exchanged, compared to its average volume of 566,801. The firm’s 50-day moving average price is $8.36 and its 200 day moving average price is $14.15. Avalo Therapeutics has a 52-week low of $3.95 and a 52-week high of $1,130.40. The stock has a market cap of $12.37 million, a PE ratio of -0.02 and a beta of 1.15.

Institutional Trading of Avalo Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Avalo Therapeutics in the 3rd quarter worth approximately $34,000. Armistice Capital LLC boosted its stake in Avalo Therapeutics by 11.4% in the 1st quarter. Armistice Capital LLC now owns 4,415,000 shares of the company’s stock worth $7,726,000 after purchasing an additional 450,334 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Avalo Therapeutics in the 1st quarter worth approximately $700,000. Braidwell LP acquired a new stake in Avalo Therapeutics in the 1st quarter worth approximately $433,000. Finally, Susquehanna International Group LLP acquired a new stake in Avalo Therapeutics in the 4th quarter worth approximately $95,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Avalo Therapeutics Company Profile

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation. The company's drug candidates include AVTX-002, a fully human anti-LIGHT monoclonal antibody, which is under Phase II clinical trial for the treatment of non-eosinophilic asthma, as well as Crohn's disease; Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome; and AVTX-008, a fully human B and T Lymphocyte Attenuator (BTLA) agonist fusion protein.