Avalo Therapeutics (NASDAQ:AVTX) Trading 3.1% Higher – Time to Buy?

Avalo Therapeutics, Inc. (NASDAQ:AVTX)’s share price shot up 3.1% during mid-day trading on Thursday . The stock traded as high as $7.28 and last traded at $7.21. 21,443 shares changed hands during trading, a decline of 65% from the average session volume of 61,265 shares. The stock had previously closed at $6.99.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVTX. 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. Wedbush started coverage on Avalo Therapeutics in a research note on Friday. They issued an “outperform” rating and a $18.00 price objective for the company.

Avalo Therapeutics Price Performance

The business has a 50 day simple moving average of $7.80 and a 200-day simple moving average of $9.39.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Velan Capital Investment Management LP purchased a new position in shares of Avalo Therapeutics during the 4th quarter valued at $817,000. BVF Inc. IL lifted its position in shares of Avalo Therapeutics by 7.2% during the 4th quarter. BVF Inc. IL now owns 1,036,679 shares of the company’s stock valued at $7,703,000 after buying an additional 69,679 shares during the last quarter. Allostery Investments LP purchased a new position in shares of Avalo Therapeutics during the 4th quarter valued at $545,000. Northern Trust Corp purchased a new position in shares of Avalo Therapeutics during the 4th quarter valued at $168,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Avalo Therapeutics by 998.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company’s stock valued at $31,000 after buying an additional 3,754 shares during the last quarter. Institutional investors 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.