BTIG Research Begins Coverage on Avalo Therapeutics (NASDAQ:AVTX)

Investment analysts at BTIG Research started coverage on shares of Avalo Therapeutics (NASDAQ:AVTX - Get Free Report) in a report issued on Thursday, MarketBeat reports. The brokerage set a "buy" rating and a $40.00 price target on the stock. BTIG Research's price target points to a potential upside of 340.53% from the company's current price.

Separately, HC Wainwright initiated coverage on Avalo Therapeutics in a research report on Thursday, October 24th. They set a "neutral" rating on the stock.

Avalo Therapeutics Trading Down 2.2 %

NASDAQ AVTX traded down $0.20 on Thursday, hitting $9.08. The company's stock had a trading volume of 65,090 shares, compared to its average volume of 202,401. Avalo Therapeutics has a 1-year low of $3.95 and a 1-year high of $34.46. The company's 50-day moving average is $11.15 and its 200 day moving average is $10.76.

Hedge Funds Weigh In On Avalo Therapeutics

A number of hedge funds have recently made changes to their positions in AVTX. Affinity Asset Advisors LLC boosted its stake in shares of Avalo Therapeutics by 350.0% during the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company's stock worth $561,000 after acquiring an additional 35,000 shares in the last quarter. Logos Global Management LP acquired a new position in Avalo Therapeutics in the 2nd quarter valued at approximately $6,722,000. Ikarian Capital LLC increased its stake in Avalo Therapeutics by 1,673.0% in the third quarter. Ikarian Capital LLC now owns 970,359 shares of the company's stock valued at $9,218,000 after acquiring an additional 915,629 shares during the period. Finally, RA Capital Management L.P. bought a new stake in shares of Avalo Therapeutics in the 3rd quarter worth about $9,186,000. Institutional investors and hedge funds own 87.06% of the company's stock.

Avalo Therapeutics Company Profile

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.