Avalo Therapeutics (NASDAQ:AVTX) Lifted to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Avalo Therapeutics (NASDAQ:AVTX) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat.com reports.

Avalo Therapeutics Stock Down 3.2 %

AVTX stock opened at $11.63 on Tuesday. The company has a market cap of $11.98 million, a P/E ratio of -0.02 and a beta of 1.15. Avalo Therapeutics has a twelve month low of $3.95 and a twelve month high of $1,130.40. The business has a fifty day moving average of $8.49 and a 200-day moving average of $14.03.

Institutional Investors Weigh In On Avalo Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in AVTX. Millennium Management LLC bought a new stake in shares of Avalo Therapeutics during the second quarter worth $506,000. Armistice Capital LLC increased its holdings in Avalo Therapeutics by 11.4% in the first quarter. Armistice Capital LLC now owns 4,415,000 shares of the company’s stock valued at $7,726,000 after purchasing an additional 450,334 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Avalo Therapeutics in the first quarter valued at about $700,000. Renaissance Technologies LLC increased its holdings in Avalo Therapeutics by 819.1% in the first quarter. Renaissance Technologies LLC now owns 367,193 shares of the company’s stock valued at $266,000 after purchasing an additional 327,241 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Avalo Therapeutics in the third quarter valued at about $34,000. Institutional investors own 87.06% of the company’s stock.

About Avalo Therapeutics

Avalo Therapeutics, Inc, a clinical stage biotechnology company, focuses on the development of therapies for the treatment of immune dysregulation. The company's drug candidates include AVTX-002, a fully human anti-LIGHT monoclonal antibody, which is under Phase II clinical trial for the treatment of non-eosinophilic asthma, as well as Crohn's disease; Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome; and AVTX-008, a fully human B and T Lymphocyte Attenuator (BTLA) agonist fusion protein.