Avalo Therapeutics (NASDAQ:AVTX) Earns Outperform Rating from Analysts at Wedbush

Investment analysts at Wedbush initiated coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 113.27% from the company’s current price.

A number of other equities analysts also recently commented on the stock. BTIG Research assumed coverage on shares of Avalo Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $40.00 target price for the company. HC Wainwright assumed coverage on shares of Avalo Therapeutics in a research note on Thursday, October 24th. They set a “neutral” rating for the company.

Avalo Therapeutics Stock Performance

NASDAQ:AVTX opened at $8.44 on Friday. The company has a fifty day simple moving average of $7.80 and a two-hundred day simple moving average of $9.39. Avalo Therapeutics has a 52 week low of $4.20 and a 52 week high of $34.46.

Hedge Funds Weigh In On Avalo Therapeutics

Several large investors have recently bought and sold shares of the stock. Velan Capital Investment Management LP acquired a new position in Avalo Therapeutics in the fourth quarter valued at $817,000. BVF Inc. IL boosted its stake in Avalo Therapeutics by 7.2% in the fourth quarter. BVF Inc. IL now owns 1,036,679 shares of the company’s stock valued at $7,703,000 after acquiring an additional 69,679 shares in the last quarter. Allostery Investments LP acquired a new position in Avalo Therapeutics in the fourth quarter valued at $545,000. Northern Trust Corp acquired a new position in Avalo Therapeutics in the fourth quarter valued at $168,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Avalo Therapeutics by 998.4% in the fourth 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 and hedge funds own 87.06% of the company’s stock.

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.