Avalo Therapeutics assumed with a Buy at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor assumed coverage of Avalo Therapeutics (AVTX) with a Buy rating and $15 price target Avalo is a clinical-stage biotech company developing therapeutics for immunological diseases, the analyst tells investors in a research note. The firm says AVTX-009 is initially being developed to treat hidradenitis suppurativa, which is a large indication with an evolving standard-of-care regimen.