Avalo Therapeutics, Inc. (NASDAQ:AVTX) Short Interest Down 15.0% in December

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

Separately, Oppenheimer dropped their price objective on shares of Avalo Therapeutics to $10.00 in a report on Tuesday, November 15th.

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

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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.