Short Interest in Avalo Therapeutics, Inc. (NASDAQ:AVTX) Drops By 11.8%

Avalo Therapeutics, Inc. (NASDAQ:AVTX) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 20,200 shares, a drop of 11.8% from the December 15th total of 22,900 shares. Based on an average daily trading volume, of 84,800 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Avalo Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Affinity Asset Advisors LLC increased its stake in Avalo Therapeutics by 350.0% during the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock worth $561,000 after acquiring an additional 35,000 shares during the period. Logos Global Management LP acquired a new position in shares of Avalo Therapeutics during the 2nd quarter worth $6,722,000. RA Capital Management L.P. bought a new position in Avalo Therapeutics in the third quarter valued at about $9,186,000. Finally, Ikarian Capital LLC raised its stake in Avalo Therapeutics by 1,673.0% during the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock worth $9,218,000 after acquiring an additional 915,629 shares in the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Avalo Therapeutics Price Performance

NASDAQ:AVTX traded up $0.02 during mid-day trading on Friday, reaching $6.75. 238,024 shares of the company’s stock were exchanged, compared to its average volume of 99,375. Avalo Therapeutics has a one year low of $4.00 and a one year high of $34.46. The business’s fifty day simple moving average is $9.42 and its two-hundred day simple moving average is $10.18.

Wall Street Analysts Forecast Growth

AVTX has been the topic of a number of research reports. HC Wainwright started coverage on shares of Avalo Therapeutics in a report on Thursday, October 24th. They issued a “neutral” rating on the stock. BTIG Research assumed coverage on Avalo Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $40.00 target price on the 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.