Wedbush Adjusts Avalo Therapeutics Price Target to $22

Wedbush Securities has lowered its price target for Avalo Therapeutics, Inc. (AVTX) to $22 from $34 while maintaining an Outperform rating on the stock. The adjustment comes after recent clinical data from AbbVie regarding a competing program, although analysts believe the potential for Avalo's lead drug candidate, abdakibart, remains strong.