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Short Interest in Avalo Therapeutics, Inc. (NASDAQ:AVTX) Expands By 26.1%

Defense World ·  10/01 15:31

Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Rating) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 66,600 shares, a growth of 26.1% from the August 31st total of 52,800 shares. Currently, 0.8% of the company's shares are short sold. Based on an average daily trading volume, of 52,000 shares, the days-to-cover ratio is currently 1.3 days.

Avalo Therapeutics Stock Down 0.3 %

Shares of Avalo Therapeutics stock opened at $3.32 on Friday. Avalo Therapeutics has a 1 year low of $2.42 and a 1 year high of $29.40. The business has a 50-day moving average of $4.36 and a two-hundred day moving average of $5.74. The company has a debt-to-equity ratio of 5.23, a quick ratio of 0.97 and a current ratio of 0.98.

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Avalo Therapeutics (NASDAQ:AVTX – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.80) by $0.42. Avalo Therapeutics had a negative return on equity of 449.27% and a negative net margin of 1,896.95%. The company had revenue of $1.03 million during the quarter. Analysts anticipate that Avalo Therapeutics will post -2.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Stonepine Capital Management LLC grew its holdings in shares of Avalo Therapeutics by 77.7% during the fourth quarter. Stonepine Capital Management LLC now owns 1,510,095 shares of the company's stock worth $2,567,000 after buying an additional 660,095 shares in the last quarter. Millennium Management LLC bought a new position in shares of Avalo Therapeutics during the second quarter worth about $506,000. Goldman Sachs Group Inc. grew its holdings in shares of Avalo Therapeutics by 23.8% during 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 in the last quarter. Northern Trust Corp grew its holdings in shares of Avalo Therapeutics by 3.1% during 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 in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Avalo Therapeutics by 819.1% in the first quarter. Renaissance Technologies LLC now owns 367,193 shares of the company's stock valued at $266,000 after purchasing an additional 327,241 shares in the last quarter.

Analyst Ratings Changes

Separately, Royal Bank of Canada cut their target price on Avalo Therapeutics from $24.00 to $21.00 in a research note on Monday, July 11th.

Avalo Therapeutics Company Profile

(Get Rating)

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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