Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Rating) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 40,600 shares, a growth of 17.0% from the December 31st total of 34,700 shares. Based on an average daily volume of 15,300 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.5% of the company's shares are sold short.
Avalo Therapeutics Trading Down 0.7 %
Shares of NASDAQ:AVTX traded down $0.03 during trading hours on Friday, reaching $4.00. The stock had a trading volume of 10,759 shares, compared to its average volume of 13,004. Avalo Therapeutics has a 1 year low of $2.42 and a 1 year high of $12.60. The firm's 50 day moving average is $5.10 and its 200-day moving average is $4.90.
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Avalo Therapeutics (NASDAQ:AVTX – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of ($1.03) by $1.37. Avalo Therapeutics had a negative net margin of 293.77% and a negative return on equity of 950.78%. The company had revenue of $14.95 million for the quarter, compared to the consensus estimate of $1.40 million. Equities analysts predict that Avalo Therapeutics will post -2.66 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Avalo Therapeutics
Large investors have recently modified their holdings of the company. Millennium Management LLC purchased a new position in shares of Avalo Therapeutics in the 2nd quarter valued at $506,000. Renaissance Technologies LLC grew its position in shares of Avalo Therapeutics by 819.1% in the 1st quarter. Renaissance Technologies LLC now owns 367,193 shares of the company's stock valued at $266,000 after buying an additional 327,241 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Avalo Therapeutics by 23.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 649,653 shares of the company's stock valued at $324,000 after buying an additional 124,769 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Avalo Therapeutics in the 3rd quarter valued at $52,000. 67.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Oppenheimer decreased their target price on shares of Avalo Therapeutics to $10.00 in a report on Tuesday, November 15th.
About Avalo Therapeutics
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Avalo Therapeutics, Inc is a biopharmaceutical company. engages in the development and commercialization of treatments for rare and orphan diseases. Its lead product candidates include CERC-801, CERC-802, and CERC-803, which are therapies for inherited metabolic disorders known as congenital disorders of glycosylation.
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