Piper Sandler Initiates Coverage on Avalo Therapeutics (NASDAQ:AVTX)

Piper Sandler assumed coverage on shares of Avalo Therapeutics (NASDAQ:AVTX) in a research note published on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $48.00 price objective on the stock.

Several other equities research analysts also recently weighed in on AVTX. Wedbush assumed coverage on Avalo Therapeutics in a report on Friday, February 21st. They issued an “outperform” rating and a $18.00 price target on the stock. BTIG Research assumed coverage on Avalo Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $35.33.

Avalo Therapeutics Stock Performance

Shares of AVTX stock opened at $7.31 on Friday. Avalo Therapeutics has a 1 year low of $4.28 and a 1 year high of $34.46. The stock’s 50 day simple moving average is $7.60 and its two-hundred day simple moving average is $9.27.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVTX. Tower Research Capital LLC TRC boosted its position in Avalo Therapeutics by 998.4% during 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 in the last quarter. Marshall Wace LLP bought a new stake in Avalo Therapeutics during the 4th quarter valued at $114,000. Walleye Capital LLC bought a new stake in Avalo Therapeutics during the 4th quarter valued at $145,000. Northern Trust Corp bought a new stake in Avalo Therapeutics during the 4th quarter valued at $168,000. Finally, Bank of Montreal Can bought a new stake in Avalo Therapeutics during the 4th quarter valued at $446,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

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.