Vault-13

AVALO THERAPEUTICS INC AVTX

COM NEW · Common Stock · CUSIP 05338F306

66 institutional holders +29 vs Q2 2025
15,319,26315.3m shares reported held*
84.5% of all shares outstanding*
$194.7mreported value*
32 new 15 added 8 reduced 2 sold out net bought ≈ $95.0m (+7.5m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 18.1m as of 2025-11-03, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $12.71. Options: 3 managers hold calls ($1.4m notional), 4 hold puts ($658.8k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q4 23: 13Q1 24: 19Q2 24: 22Q3 24: 30Q4 24: 34Q1 25: 35Q2 25: 37Q3 25: 6666Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q4 202313
Q1 202419
Q2 202422
Q3 202430
Q4 202434
Q1 202535
Q2 202537
Q3 202566

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q1 24: 12 bought or addedQ1 24: 5 cut or sold outQ1 24Q2 24: 11 bought or addedQ2 24: 8 cut or sold outQ3 24: 13 bought or addedQ3 24: 3 cut or sold outQ3 24Q4 24: 15 bought or addedQ4 24: 9 cut or sold outQ1 25: 16 bought or addedQ1 25: 8 cut or sold outQ1 25Q2 25: 13 bought or addedQ2 25: 14 cut or sold outQ3 25: 47 bought or addedQ3 25: 10 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024125
Q2 2024118
Q3 2024133
Q4 2024159
Q1 2025168
Q2 20251314
Q3 20254710

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $19.0kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $1.4mQ3 25 puts: $658.8kQ3 25P/C 0.48
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$19.0k$00.00
Q3 2025$1.4m$658.8k0.48

Biggest buyers

Point72 Asset Management, L.P. New +1,053,983+1.1m
Caligan Partners LP New +833,333+833.3k
Balyasny Asset Management L.P. New +817,436+817.4k
SILVERARC CAPITAL MANAGEMENT, LLC New +720,922+720.9k
VANGUARD GROUP INC Added +525,696+525.7k
CITADEL ADVISORS LLC New +481,669+481.7k
Affinity Asset Advisors, LLC Added +398,345+398.3k
ORBIMED ADVISORS LLC Added +382,300+382.3k
BVF INC/IL Added +327,207+327.2k
ADAGE CAPITAL PARTNERS GP, L.L.C. New +258,769+258.8k

Biggest sellers

Deep Track Capital, LP Reduced -422,503-422.5k
RA CAPITAL MANAGEMENT, L.P. Reduced -270,005-270.0k
RWA WEALTH PARTNERS, LLC Reduced -174,500-174.5k
ADAR1 Capital Management, LLC Reduced -72,337-72.3k
UBS Group AG Reduced -38,516-38.5k
Allostery Investments LP Sold out -9,000-9.0k
GEODE CAPITAL MANAGEMENT, LLC Reduced -6,271-6.3k
NORTHERN TRUST CORP Reduced -4,098-4.1k
BlackRock, Inc. Reduced -1,648-1.6k
RAYMOND JAMES FINANCIAL INC Sold out -1-1

Biggest calls

DLD Asset Management, LP New $673.0k53.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $644.4k50.7k shares
SIMPLEX TRADING, LLC Added $68.0k5.4k shares

Biggest puts

DLD Asset Management, LP New $296.6k23.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $172.9k13.6k shares
CITADEL ADVISORS LLC New $138.5k10.9k shares
GROUP ONE TRADING LLC New $50.8k4.0k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution +1.1 pts · filed 2026-08-07 10.8% +1.1 pts 5.7m≈ $106.0m 2026-08-07
Commodore Capital LP 13G · passive investor new · filed 2026-06-18 9.9% new 5.7m≈ $105.7m 2026-06-18
TCG Crossover GP II, LLC 13G · passive investor new · filed 2026-05-12 7.9% new 3.0m≈ $55.8m 2026-05-12
Deep Track Capital, LP 13G · passive investor +1.1 pts · filed 2026-08-14 6.9% +1.1 pts 3.6m≈ $66.7m 2026-08-14
BlackRock, Inc. 13G · institution new · filed 2026-07-27 6.5% new 3.4m≈ $63.1m 2026-07-27
RA CAPITAL MANAGEMENT, L.P. 13G · passive investor -3.6 pts · filed 2026-08-14 6.3% -3.6 pts 3.5m≈ $64.4m 2026-08-14
Caligan Partners LP 13G · institution -1.3 pts · filed 2026-08-14 5.9% -1.3 pts 3.2m≈ $58.5m 2026-08-14
Affinity Asset Advisors, LLC 13G · institution no change · filed 2026-08-13 5.5% no change 2.9m≈ $53.6m 2026-08-13
STATE STREET CORP 13G · institution new · filed 2026-08-07 5.5% new 2.9m≈ $53.4m 2026-08-07
BIOTECHNOLOGY VALUE FUND L P 13G · passive investor -4.7 pts · filed 2026-08-14 5.3% -4.7 pts 2.8m≈ $51.8m 2026-08-14
Point72 Asset Management, L.P. 13G · passive investor +1.7 pts · filed 2026-05-26 5.2% +1.7 pts 2.7m≈ $50.1m 2026-05-26

Fell to 5% or below in the last year: T. Rowe Price Investment Management, Inc. (0.0%, 2026-08-14), Nantahala Capital Management, LLC (3.5%, 2026-08-14), Avoro Capital Advisors LLC (4.4%, 2026-08-14), MILLENNIUM MANAGEMENT LLC (0.0%, 2026-07-06), Logos Global Management LP (3.2%, 2026-05-15), ORBIMED ADVISORS LLC (2.1%, 2026-05-15), BALYASNY ASSET MANAGEMENT L.P. (2.4%, 2026-02-17), SILVERARC CAPITAL MANAGEMENT, LLC (2.8%, 2026-02-10), VANGUARD GROUP INC (4.4%, 2026-01-30)

Insider purchases and sales in Q3 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q4 23: 0 buyingQ4 23: 0 sellingQ1 24: 0 buyingQ1 24: 0 sellingQ1 24Q2 24: 0 buyingQ2 24: 0 sellingQ3 24: 0 buyingQ3 24: 0 sellingQ3 24Q4 24: 1 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—0——
Q4 20241$12.8k0——
Q1 20250—0——
Q2 20250—0——
Q3 20250—0——

None reported in Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BVF INC/IL 0.70% of their portfolio San Francisco, CA 1,355,2561.4m $17.2m $17.2m 0.70% Added +327.2k +327,207
2 ORBIMED ADVISORS LLC 0.41% of their portfolio New York, NY 1,349,3001.3m $17.1m $17.1m 0.41% Added +382.3k +382,300
3 Nantahala Capital Management, LLC 0.97% of their portfolio NEW CANAAN, CT 1,235,0001.2m $15.7m $15.7m 0.97% Added +240.0k +240,000
4 Point72 Asset Management, L.P. 0.03% of their portfolio STAMFORD, CT 1,053,9831.1m $13.4m $13.4m 0.03% New
5 Affinity Asset Advisors, LLC 1.19% of their portfolio NEW YORK, NY 1,006,2171.0m $12.8m $12.8m 1.19% Added +398.3k +398,345
6 Caligan Partners LP 1.47% of their portfolio NEW YORK, NY 833,333833.3k $10.6m $10.6m 1.47% New
7 Balyasny Asset Management L.P. 0.02% of their portfolio Chicago, IL 817,436817.4k $10.4m $10.4m 0.02% New
8 SILVERARC CAPITAL MANAGEMENT, LLC 1.33% of their portfolio BOSTON, MA 720,922720.9k $9.2m $9.2m 1.33% New
9 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 692,637692.6k $8.8m $8.8m 0.00% Added +525.7k +525,696
10 RA CAPITAL MANAGEMENT, L.P. 0.10% of their portfolio BOSTON, MA 662,968663.0k $8.4m $8.4m 0.10% Reduced -270.0k -270,005
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 605,842605.8k $7.7m $7.7m 0.00% Added +199.3k +199,271
12 Commodore Capital LP 0.30% of their portfolio NEW YORK, NY 483,000483.0k $6.1m $6.1m 0.30% Unchanged
13 TCG Crossover Management, LLC 0.30% of their portfolio PALO ALTO, CA 483,000483.0k $6.1m $6.1m 0.30% Unchanged
14 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 481,669481.7k $6.1m $6.1m 0.00% New
15 Velan Capital Investment Management LP 3.15% of their portfolio ALPHARETTA, GA 263,642263.6k $3.4m $3.4m 3.15% Added +108.7k +108,670
16 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio Boston, MA 258,769258.8k $3.3m $3.3m 0.01% New
17 BOOTHBAY FUND MANAGEMENT, LLC 0.07% of their portfolio NEW YORK, NY 228,297228.3k $2.9m $2.9m 0.07% Added +217.0k +216,976
18 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 213,572213.6k $2.7m $2.7m 0.00% New
19 SUPERSTRING CAPITAL MANAGEMENT LP 2.36% of their portfolio NEW YORK, NY 188,080188.1k $2.4m $2.4m 2.36% New
20 Ally Bridge Group (NY) LLC 1.90% of their portfolio NEW YORK, NY 178,100178.1k $2.3m $2.3m 1.90% New
21 Ikarian Capital, LLC 0.41% of their portfolio DALLAS, TX 159,777159.8k $2.0m $2.0m 0.41% Added +124.5k +124,477
22 BlackRock, Inc. 0.00% of their portfolio New York, NY 154,251154.3k $2.0m $2.0m 0.00% Reduced -1.6k -1,648
23 Deep Track Capital, LP 0.05% of their portfolio GREENWICH, CT 144,600144.6k $1.8m $1.8m 0.05% Reduced -422.5k -422,503
24 PERCEPTIVE ADVISORS LLC 0.05% of their portfolio NEW YORK, NY 139,667139.7k $1.8m $1.8m 0.05% Unchanged
25 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 137,431137.4k $1.7m $1.7m 0.00% New
26 Boxer Capital Management, LLC 0.51% of their portfolio San Diego, CA 125,000125.0k $1.6m $1.6m 0.51% New
27 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 104,189104.2k $1.3m $1.3m 0.00% Reduced -6.3k -6,271
28 Exome Asset Management LLC 0.84% of their portfolio NEW YORK, NY 100,036100.0k $1.3m $1.3m 0.84% New
29 Patient Square Capital LP 0.34% of their portfolio MENLO PARK, CA 100,000100.0k $1.3m $1.3m 0.34% New
30 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 98,70098.7k $1.3m $1.3m 0.00% New
31 RWA WEALTH PARTNERS, LLC 0.01% of their portfolio BOSTON, MA 86,51686.5k $1.1m $1.1m 0.01% Reduced -174.5k -174,500
32 CANTOR FITZGERALD, L. P. 0.02% of their portfolio NEW YORK, NY 85,24785.2k $1.1m $1.1m 0.02% New
33 DLD Asset Management, LP 0.12% of their portfolio NEW YORK, NY 75,00075.0k $953.2k $953.2k 0.12% New
34 Aberdeen Group plc 0.00% of their portfolio EDINBURGH, X0 72,80072.8k $925.3k $925.3k 0.00% New
35 Sio Capital Management, LLC 0.23% of their portfolio NEW YORK, NY 72,17372.2k $917.3k $917.3k 0.23% Unchanged
36 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 56,00956.0k $711.9k $711.9k 0.00% New
37 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 54,99955.0k $695.7k $695.7k 0.01% Added +44.0k +44,023
38 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 49,24249.2k $625.9k $625.9k 0.00% Added +36.4k +36,353
39 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 47,39847.4k $602.4k $602.4k 0.00% New
40 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 45,45445.5k $577.7k $577.7k 0.00% New
41 UBS Group AG 0.00% of their portfolio ZURICH, V8 45,20845.2k $574.6k $574.6k 0.00% Reduced -38.5k -38,516
42 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 44,74344.7k $568.7k $568.7k 0.00% Added +24.1k +24,130
43 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.03% of their portfolio Englewood, NJ 33,33733.3k $423.7k $423.7k 0.03% New
44 ADAR1 Capital Management, LLC 0.04% of their portfolio AUSTIN, TX 32,39332.4k $411.7k $411.7k 0.04% Reduced -72.3k -72,337
45 Birchview Capital, LP 0.30% of their portfolio BURLINGTON, VT 31,00031.0k $394.0k $394.0k 0.30% New
46 HighVista Strategies LLC 0.09% of their portfolio BOSTON, MA 27,77827.8k $353.1k $353.1k 0.09% New
47 PRELUDE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 24,62824.6k $313.0k $313.0k 0.02% New
48 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 18,57518.6k $236.1k $236.1k 0.00% Reduced -4.1k -4,098
49 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 13,95013.9k $177.3k $177.3k 0.01% New
50 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 11,21511.2k $143.2k $143.2k 0.00% New
51 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 9,3469.3k $118.8k $118.8k 0.00% New
52 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,1463.1k $40.0k $40.0k 0.00% Added +3.1k +3,072
53 BIT Capital GmbH 0.00% of their portfolio BERLIN, 2M 1,9291.9k $24.5k $24.5k 0.00% New
54 PFS Partners, LLC 0.01% of their portfolio MINE HILL, NJ 1,0001.0k $12.7k $12.7k 0.01% New
55 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 748748 $9.0k $9.0k 0.00% New
56 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 400400 $5.1k $5.1k 0.00% New
57 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 281281 $3.6k $3.6k 0.00% Added +280 +280
58 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 2626 $330 $330 0.00% New
59 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 2323 $292 $292 0.00% Added +1 +1
60 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1010 $127 $127 0.00% Unchanged
61 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 55 $64 $64 0.00% Unchanged
62 Avion Wealth 0.00% of their portfolio THE WOODLANDS, TX 55 $0 $0 0.00% Unchanged
63 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 22 $18 $18 0.00% Unchanged
64 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 11 $13 $13 0.00% Unchanged
65 Key Financial Inc 0.00% of their portfolio WEST CHESTER, PA 11 $13 $13 0.00% Unchanged
66 Activest Wealth Management 0.00% of their portfolio AVENTURA, FL 11 $13 $13 0.00% Unchanged