Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Rating) was the recipient of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 34,700 shares, a drop of 15.0% from the December 15th total of 40,800 shares. Based on an average daily volume of 14,600 shares, the short-interest ratio is presently 2.4 days. Approximately 0.4% of the shares of the stock are short sold.
Avalo Therapeutics Stock Down 0.4 %
NASDAQ AVTX opened at $4.90 on Friday. Avalo Therapeutics has a 52-week low of $2.42 and a 52-week high of $12.60. The company has a fifty day moving average of $5.26 and a 200-day moving average of $5.36.
Avalo Therapeutics (NASDAQ:AVTX – Get Rating) last released its quarterly earnings data on Monday, November 7th. The company reported $0.34 earnings per share (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 firm had revenue of $14.95 million for the quarter, compared to analysts’ expectations of $1.40 million. On average, analysts anticipate that Avalo Therapeutics will post -2.66 earnings per share for the current year.
Analysts Set New Price Targets
Hedge Funds Weigh In On Avalo Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in shares of Avalo Therapeutics during the second quarter valued at about $506,000. Goldman Sachs Group Inc. lifted 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 in the last quarter. Renaissance Technologies LLC lifted its stake in shares of 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. Finally, Assenagon Asset Management S.A. bought a new position in shares of Avalo Therapeutics in the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 67.46% of the company’s stock.
About Avalo Therapeutics
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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