Short Interest in Avalo Therapeutics, Inc. (NASDAQ:AVTX) Increases By 340.4%

Avalo Therapeutics, Inc. (NASDAQ:AVTX) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 22,900 shares, a growth of 340.4% from the November 30th total of 5,200 shares. Based on an average daily volume of 74,100 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Avalo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AVTX. Affinity Asset Advisors LLC grew its stake in shares of 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 purchasing an additional 35,000 shares during the period. Logos Global Management LP purchased a new stake in Avalo Therapeutics during the second quarter worth about $6,722,000. RA Capital Management L.P. purchased a new position in Avalo Therapeutics in the third quarter valued at about $9,186,000. Finally, Ikarian Capital LLC lifted its position in shares of Avalo Therapeutics by 1,673.0% during the 3rd quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock valued at $9,218,000 after acquiring an additional 915,629 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

Avalo Therapeutics Stock Up 2.8 %

Shares of Avalo Therapeutics stock traded up $0.25 during trading on Thursday, reaching $9.06. The company’s stock had a trading volume of 84,764 shares, compared to its average volume of 204,187. The business has a 50 day moving average price of $11.07 and a 200-day moving average price of $10.69. Avalo Therapeutics has a 12-month low of $3.95 and a 12-month high of $34.46.

Analyst Ratings Changes

Several equities research analysts have recently commented on AVTX shares. BTIG Research began coverage on Avalo Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $40.00 price target for the company. HC Wainwright started coverage on shares of Avalo Therapeutics in a report on Thursday, October 24th. They issued a “neutral” rating 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.