Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Rating) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 35,300 shares, a decrease of 27.5% from the October 15th total of 48,700 shares. Currently, 0.4% of the company's stock are short sold. Based on an average daily trading volume, of 31,100 shares, the days-to-cover ratio is currently 1.1 days.
Institutional Trading of Avalo Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leo Brokerage LLC bought a new stake in shares of Avalo Therapeutics during the 1st quarter valued at $45,000. Assenagon Asset Management S.A. bought a new stake in Avalo Therapeutics during the third quarter valued at about $52,000. Renaissance Technologies LLC increased its position in Avalo Therapeutics by 819.1% in the first quarter. Renaissance Technologies LLC now owns 367,193 shares of the company's stock worth $266,000 after buying an additional 327,241 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Avalo Therapeutics by 23.8% in the second quarter. Goldman Sachs Group Inc. now owns 649,653 shares of the company's stock worth $324,000 after buying an additional 124,769 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Avalo Therapeutics during the 2nd quarter valued at about $506,000.
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Avalo Therapeutics Stock Performance
NASDAQ:AVTX traded down $0.30 on Friday, hitting $5.80. The stock had a trading volume of 32,230 shares, compared to its average volume of 24,928. Avalo Therapeutics has a 52-week low of $2.42 and a 52-week high of $27.96. The company has a current ratio of 1.07, a quick ratio of 0.97 and a debt-to-equity ratio of 5.23. The business's 50-day simple moving average is $4.90 and its two-hundred day simple moving average is $5.19.
Analyst Ratings Changes
Separately, Oppenheimer reduced their target price on Avalo Therapeutics from $17.00 to $10.00 in a report on Wednesday.
Avalo Therapeutics Company Profile
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Avalo Therapeutics, Inc, a clinical-stage precision medicine company, discovers, develops, and commercializes targeted therapeutics for patients with unmet clinical need in immunology, immuno-oncology, and rare genetic diseases. It develops AVTX-002, a fully human anti-LIGHT monoclonal antibody, which is under Phase II clinical trial for the treatment of non-eosinophilic asthma, as well as inflammatory bowel disease, including moderate to severe Crohn's disease, and ulcerative colitis; and Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome.
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