Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Large Decrease in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 43,100 shares, a decline of 23.6% from the August 15th total of 56,400 shares. Based on an average daily trading volume, of 17,800 shares, the days-to-cover ratio is currently 2.4 days. Approximately 5.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Avalo Therapeutics

Hedge funds have recently bought and sold shares of the stock. Affinity Asset Advisors LLC bought a new position in shares of Avalo Therapeutics during the first quarter worth approximately $218,000. Ikarian Capital LLC acquired a new position in Avalo Therapeutics in the 1st quarter valued at $1,015,000. Finally, Logos Global Management LP bought a new position in Avalo Therapeutics during the 2nd quarter worth $6,722,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Avalo Therapeutics Price Performance

Shares of NASDAQ:AVTX traded down $0.01 during midday trading on Friday, hitting $8.98. The stock had a trading volume of 14,396 shares, compared to its average volume of 259,223. Avalo Therapeutics has a 12 month low of $3.95 and a 12 month high of $71.04. The business’s 50-day simple moving average is $10.25 and its 200-day simple moving average is $10.91.

Avalo Therapeutics (NASDAQ:AVTX) last announced its quarterly earnings results on Monday, August 12th. The company reported ($14.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.70) by ($7.37). Avalo Therapeutics had a negative return on equity of 306.52% and a negative net margin of 1,639.50%. On average, research analysts expect that Avalo Therapeutics will post -7.78 EPS for the current fiscal year.

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.