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

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 90,600 shares, an increase of 19.2% from the February 13th total of 76,000 shares. Based on an average daily trading volume, of 102,400 shares, the short-interest ratio is currently 0.9 days. Approximately 1.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Avalo Therapeutics

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Avalo Therapeutics by 998.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company’s stock worth $31,000 after purchasing an additional 3,754 shares during the period. Marshall Wace LLP purchased a new stake in Avalo Therapeutics in the 4th quarter valued at about $114,000. Walleye Capital LLC purchased a new stake in Avalo Therapeutics in the 4th quarter valued at about $145,000. Northern Trust Corp purchased a new stake in Avalo Therapeutics in the 4th quarter valued at about $168,000. Finally, Bank of Montreal Can purchased a new stake in Avalo Therapeutics in the 4th quarter valued at about $446,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

Avalo Therapeutics Stock Up 4.1 %

AVTX stock opened at $7.69 on Tuesday. Avalo Therapeutics has a 12 month low of $4.35 and a 12 month high of $34.46. The company has a 50-day moving average price of $7.39 and a 200 day moving average price of $9.11.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVTX. Piper Sandler began coverage on shares of Avalo Therapeutics in a report on Friday, February 28th. They issued an “overweight” rating and a $48.00 target price on the stock. Wedbush began coverage on shares of Avalo Therapeutics in a report on Friday, February 21st. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, BTIG Research initiated coverage on shares of Avalo Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Avalo Therapeutics presently has an average rating of “Buy” and an average 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.