Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Large Increase in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX - Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 76,000 shares, an increase of 75.5% from the January 31st total of 43,300 shares. Based on an average daily trading volume, of 88,800 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Avalo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in shares of Avalo Therapeutics by 998.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company's stock valued at $31,000 after acquiring an additional 3,754 shares during the last quarter. Marshall Wace LLP bought a new position in Avalo Therapeutics during the 4th quarter worth $114,000. Walleye Capital LLC bought a new position in Avalo Therapeutics during the 4th quarter worth $145,000. Northern Trust Corp bought a new position in Avalo Therapeutics during the 4th quarter worth $168,000. Finally, Bank of Montreal Can bought a new position in Avalo Therapeutics during the 4th quarter worth $446,000. 87.06% of the stock is currently owned by institutional investors.

Avalo Therapeutics Stock Up 1.2 %

NASDAQ AVTX traded up $0.08 on Wednesday, hitting $6.98. 29,218 shares of the company's stock were exchanged, compared to its average volume of 58,696. The stock has a 50-day moving average of $7.48 and a 200-day moving average of $9.21. Avalo Therapeutics has a 52 week low of $4.35 and a 52 week high of $34.46.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wedbush began coverage on Avalo Therapeutics in a research report on Friday, February 21st. They set an "outperform" rating and a $18.00 price target on the stock. BTIG Research assumed coverage on Avalo Therapeutics in a research report on Thursday, December 19th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Piper Sandler assumed coverage on Avalo Therapeutics in a research report on Friday, February 28th. They set an "overweight" rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $35.33.

About Avalo Therapeutics

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation in the Unites States. The company's drug candidates include AVTX-009, an Anti-IL-1ß monoclonal antibody which is under Phase I targeting inflammatory diseases; and AVTX-008, a fully human B and T lymphocyte attenuator agonist fusion protein for the treatment of immune dysregulation disorders.