Wedbush Upgrades Avalo Therapeutics (NASDAQ:AVTX) to “Strong-Buy”

Avalo Therapeutics (NASDAQ:AVTX) was upgraded by analysts at Wedbush to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on AVTX. HC Wainwright started coverage on shares of Avalo Therapeutics in a research note on Thursday, October 24th. They issued a “neutral” rating for the company. BTIG Research assumed coverage on shares of Avalo Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $40.00 price objective for the company.

Avalo Therapeutics Stock Performance

AVTX stock opened at $8.44 on Thursday. The firm has a 50 day simple moving average of $7.82 and a 200 day simple moving average of $9.40. Avalo Therapeutics has a 52 week low of $4.20 and a 52 week high of $34.46.

Hedge Funds Weigh In On Avalo Therapeutics

A number of institutional investors have recently bought and sold shares of AVTX. Tower Research Capital LLC TRC grew its position in shares of Avalo Therapeutics by 998.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,130 shares of the company’s stock valued at $31,000 after purchasing an additional 3,754 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Avalo Therapeutics in the fourth quarter valued at approximately $114,000. Walleye Capital LLC acquired a new position in shares of Avalo Therapeutics in the fourth quarter valued at approximately $145,000. Northern Trust Corp acquired a new position in shares of Avalo Therapeutics in the fourth quarter valued at approximately $168,000. Finally, Bank of Montreal Can acquired a new position in shares of Avalo Therapeutics in the fourth quarter valued at approximately $446,000. 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.