Avalo Therapeutics (NASDAQ:AVTX) Releases Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Avalo Therapeutics (NASDAQ:AVTX – Get Rating) announced its quarterly earnings data on Thursday. The company reported ($1.38) earnings per share for the quarter, topping the consensus estimate of ($1.77) by $0.39, Fidelity Earnings reports. Avalo Therapeutics had a negative return on equity of 308.20% and a negative net margin of 1,896.95%.

Avalo Therapeutics Trading Down 1.9 %

AVTX opened at $3.98 on Friday. Avalo Therapeutics has a 52-week low of $2.42 and a 52-week high of $38.88. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 5.23. The business’s 50-day simple moving average is $6.13 and its 200 day simple moving average is $7.27.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada cut their price objective on Avalo Therapeutics from $24.00 to $21.00 in a research report on Monday, July 11th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Avalo Therapeutics stock. Renaissance Technologies LLC boosted its position in Avalo Therapeutics, Inc. (NASDAQ:AVTX – Get Rating) by 819.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 367,193 shares of the company’s stock after acquiring an additional 327,241 shares during the quarter. Renaissance Technologies LLC owned 0.33% of Avalo Therapeutics worth $266,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 77.15% of the company’s stock.

About Avalo Therapeutics

(Get Rating)

Avalo Therapeutics, Inc, a clinical-stage precision medicine company, discovers, develops, and commercializes targeted therapeutics for patients with unmet clinical need in immunology, immuno-oncology, and rare genetic diseases. It develops 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 inflammatory bowel disease, including moderate to severe Crohn's disease, and ulcerative colitis; and Phase III clinical trial for the treatment of COVID-19 acute respiratory distress syndrome.