Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Rating) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 87,300 shares, a decline of 10.9% from the July 31st total of 98,000 shares. Based on an average daily trading volume, of 56,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the company's stock are sold short.
Analyst Ratings Changes
Separately, Royal Bank of Canada dropped their target price on Avalo Therapeutics from $24.00 to $21.00 in a research note on Monday, July 11th.
Get Avalo Therapeutics alerts:Avalo Therapeutics Stock Performance
Avalo Therapeutics stock opened at $4.82 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 5.23. The business's 50-day simple moving average is $6.11 and its two-hundred day simple moving average is $6.53. Avalo Therapeutics has a fifty-two week low of $2.42 and a fifty-two week high of $38.88.
Avalo Therapeutics (NASDAQ:AVTX – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($1.38) earnings per share for the quarter, beating the consensus estimate of ($1.77) by $0.39. Avalo Therapeutics had a negative return on equity of 449.27% and a negative net margin of 1,896.95%. As a group, sell-side analysts forecast that Avalo Therapeutics will post -2.02 EPS for the current year.Institutional Trading of Avalo Therapeutics
Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Avalo Therapeutics by 3.1% in the fourth quarter. Northern Trust Corp now owns 533,578 shares of the company's stock worth $907,000 after buying an additional 16,276 shares during the last quarter. Freestone Capital Holdings LLC purchased a new stake in shares of Avalo Therapeutics in the fourth quarter worth about $34,000. LGL Partners LLC purchased a new stake in shares of Avalo Therapeutics in the fourth quarter worth about $49,000. Leo Brokerage LLC purchased a new stake in shares of Avalo Therapeutics in the first quarter worth about $45,000. Finally, Goldman Sachs Group Inc. boosted 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 last quarter.
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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