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

Avalo Therapeutics, Inc. (NASDAQ:AVTX) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 78,500 shares, a growth of 16.8% from the March 15th total of 67,200 shares. Based on an average trading volume of 642,100 shares, the days-to-cover ratio is presently 0.1 days.

Avalo Therapeutics Trading Up 2.3 %

Avalo Therapeutics stock traded up $0.34 during mid-day trading on Monday, hitting $15.24. The stock had a trading volume of 91,326 shares, compared to its average volume of 591,368. The stock has a market capitalization of $15.70 million, a PE ratio of -0.02 and a beta of 1.13. Avalo Therapeutics has a 12 month low of $3.95 and a 12 month high of $1,130.40. The stock has a 50-day simple moving average of $7.79 and a two-hundred day simple moving average of $14.26.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AVTX. Acadian Asset Management LLC bought a new stake in shares of Avalo Therapeutics during the third quarter worth approximately $34,000. Armistice Capital LLC lifted its stake in shares of Avalo Therapeutics by 11.4% in the 1st 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 period. Alyeska Investment Group L.P. bought a new position in shares of Avalo Therapeutics in the 1st quarter worth $700,000. Braidwell LP acquired a new stake in shares of Avalo Therapeutics during the first quarter worth $433,000. Finally, Susquehanna International Group LLP bought a new stake in Avalo Therapeutics in the fourth quarter valued at about $95,000. Institutional investors 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. 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.