Avalo Therapeutics, Inc. (NASDAQ:AVTX) Sees Significant Growth in Short Interest

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 22,900 shares, an increase of 340.4% from the November 30th total of 5,200 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 74,100 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVTX. RA Capital Management L.P. purchased a new stake in Avalo Therapeutics during the third quarter valued at about $9,186,000. Ikarian Capital LLC increased its position in shares of Avalo Therapeutics by 1,673.0% during the 3rd quarter. Ikarian Capital LLC now owns 970,359 shares of the company’s stock valued at $9,218,000 after purchasing an additional 915,629 shares during the last quarter. Logos Global Management LP purchased a new position in shares of Avalo Therapeutics during the 2nd quarter valued at about $6,722,000. Finally, Affinity Asset Advisors LLC lifted its position in Avalo Therapeutics by 350.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 45,000 shares of the company’s stock worth $561,000 after buying an additional 35,000 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Avalo Therapeutics Price Performance

AVTX stock traded down $0.76 during midday trading on Friday, reaching $8.33. The company had a trading volume of 102,847 shares, compared to its average volume of 203,823. The firm has a 50-day moving average price of $10.99 and a 200-day moving average price of $10.66. Avalo Therapeutics has a 1 year low of $3.95 and a 1 year high of $34.46.

Wall Street Analyst Weigh In

AVTX has been the subject of several research analyst reports. HC Wainwright assumed coverage on Avalo Therapeutics in a research note on Thursday, October 24th. They set a “neutral” rating for the company. 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 for the company.

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.