# Avalo Therapeutics, Inc. (AVTX)

> Source: Nexqual · https://nexqual.com/AVTX · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Avalo Therapeutics, Inc. (AVTX), nexqual.com/AVTX" · informational, not investment advice.

**Price:** USD 7.44 (+4.49% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 7.12 · day 7.18–7.71 · 52w 6.53–24.27 · market cap $399M · NCM

## Key facts
- Analysts: Buy (mean 2.00 on a 1–5 scale) (14 analysts), mean target USD 36.6 (range 10–60).
- Total return with dividends: 1Y -60.5% vs S&P 500 +14.8%; 5Y -99.9% vs S&P 500 +79.1%.
- Next earnings: 2026-11-12 (date not yet confirmed by the company), EPS estimate USD -0.55, revenue estimate $0K. All companies reporting that day: https://nexqual.com/earnings/2026-11-12
- Dividend: AVTX paid no cash dividend in the last five years.
- Short interest: 22.34% of float (as of 2026-10-15), 10.7 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.4M | $18.1M | $1.9M | $441K | $59K | — |
| Gross profit | $3.9M | $14.6M | $640K | — | — | — |
| Operating income | -$82.1M | -$37.4M | -$27.4M | -$68.5M | -$72.9M | -$91.4M |
| Net income | -$84.4M | -$41.7M | -$31.5M | -$35.1M | -$78.3M | -$100M |
| EPS (diluted) | — | -$1063.00 | -$113.58 | -$20.91 | -$5.84 | — |
| Free cash flow | -$71.0M | -$26.8M | -$30.8M | -$49.1M | — | — |
| Gross margin | 72.4% | 81.0% | 33.3% | — | — | — |
| Operating margin | -1521.6% | -207.4% | -1421.6% | -15535.6% | -123601.7% | — |
| Net margin | -1563.1% | -230.8% | -1639.5% | -7965.8% | -132642.4% | — |
| Revenue growth | -19.4% | +234.4% | -89.3% | -77.1% | -86.6% | — |
| Cash + short-term investments | $54.6M | $13.2M | $7.4M | $135M | $98.3M | — |
| Total debt | $32.8M | $13.5M | $0K | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 0.9x · Earnings yield -25.15%

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 14 analysts; mean target USD 36.6 (low 10, high 60).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Guggenheim | Downgrade | Buy → Neutral |  |
| 2026-10-23 | Wedbush | Target lowered | Outperform | $34 → $22 |
| 2026-10-23 | HC Wainwright & Co. | Downgrade | Buy → Neutral |  |
| 2026-10-23 | BTIG | Target lowered | Buy | $58 → $10 |
| 2026-08-07 | Guggenheim | Target lowered | Buy | $50 → $48 |
| 2026-08-07 | HC Wainwright & Co. | Target lowered | Buy | $35 → $30 |
| 2026-07-06 | Leerink Partners | Initiated | Outperform | $38 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -60.5% | -99.9% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -60.8% | -74.3% |
| Volatility (annualized) | 92.8% | 169.6% |
| Max drawdown | -70.5% (May 2026→Oct 2026) | -100.0% (Nov 2021→May 2025) |

## Dividends
AVTX paid no cash dividend in the last five years.

## Short interest
11,963,625 shares sold short, 22.34% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 12,925,869 shares (-7.4%). Days to cover: 10.7 (short shares ÷ average daily volume).

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · IOVA (Iovance Biotherapeutics, Inc.) USD 9.56 -35.45% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/AVTX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name AVTX in their own reports (relationship from AVTX's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Alto Neuroscience, Inc. (ANRO) | 10-K 2026-03-16 | "In May 2021, we entered into a patent and know-how license agreement, or the Cerecor Agreement, with Cerecor Inc. (n/k/a Avalo Therapeutics, Inc.), or Cerecor, pursuant to which we obtained an exclusi…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.55 | $-0.55 | $0.00 | $0 | 8 |
| Next quarter (ends 2026-12-31) | $-0.53 | $-0.66 | +$0.13 | $0 | 8 |
| Current fiscal year (ends 2026-12-31) | $-2.72 | $-2.56 | −$0.16 | $0 | 8 |
| Next fiscal year (ends 2027-12-31) | $-2.78 | $-2.76 | −$0.01 | $0 | 10 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.83 | −$0.62 | Miss −33.9% | — |
| — | Quarter ended Mar 31, 2026 | −$0.98 | −$1.07 | Beat +8.4% | — |
| — | Quarter ended Dec 31, 2025 | −$0.37 | −$1.49 | Beat +75.2% | — |
| — | Quarter ended Sep 30, 2025 | −$2.19 | −$1.64 | Miss −33.5% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).