Avalo Therapeutics (NASDAQ:AVTX) Trading Down 1.7%

Avalo Therapeutics, Inc. (NASDAQ:AVTX) dropped 1.7% on Friday . The stock traded as low as $12.67 and last traded at $13.04. Approximately 34,855 shares changed hands during trading, a decline of 91% from the average daily volume of 377,370 shares. The stock had previously closed at $13.26.

Wall Street Analyst Weigh In

Separately, Oppenheimer raised Avalo Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 16th.

Avalo Therapeutics Stock Performance

The firm has a 50-day moving average of $12.37 and a two-hundred day moving average of $9.60.

Avalo Therapeutics (NASDAQ:AVTX) last posted its quarterly earnings data on Monday, May 13th. The company reported ($5.98) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($4.80). Avalo Therapeutics had a negative return on equity of 1,439.87% and a negative net margin of 1,639.50%. Analysts forecast that Avalo Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avalo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVTX. Acadian Asset Management LLC bought a new position in Avalo Therapeutics during the third quarter valued at about $34,000. Affinity Asset Advisors LLC bought a new position in Avalo Therapeutics during the first quarter valued at about $218,000. Finally, Ikarian Capital LLC bought a new position in Avalo Therapeutics during the first quarter valued at about $1,015,000. 87.06% of the stock is currently owned by institutional investors.

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.