Why Is AVALYN PHARMA INC (AVLN) Stock Down Today?

Avalyn Pharma Inc (AVLN) shares fell 10.97% to $28.15 on November 12, 2026. The primary driver was the company’s release of third-quarter financial results, which included a loss per share of $0.67, despite beating the consensus estimate of $0.75.

What Happened

Avalyn Pharma filed a Form 8-K with the SEC to report its third-quarter 2026 results of operations and financial condition. The filing included financial statements and exhibits. In a separate business update, the company announced it has initiated a Phase 1 study of AP03, a fixed-dose combination of nebulized pirfenidone and nintedanib, in healthy volunteers. The company also presented new data for AP01 at the ERS Congress.

On November 10, 2026, Avalyn Pharma participated in the 3rd Annual Guggenheim Healthcare Innovation Conference. CEO Lyn Baranowski represented the company during the presentation. Raymond James initiated coverage on the stock with an Outperform rating and a price target of $60.

What The Data Shows

The stock opened at $30.69, representing a 2.9% gap down from the prior close of $31.62. The session high was $31.39 at 9:30 AM ET, while the session low was $28.15 at 9:30 AM ET. The last recorded price was $28.15. Volume was 0.0M shares, which is 0.1x the three-month daily average.

Avalyn Pharma has a market cap of $1.4B and is unprofitable, with a trailing twelve-month EPS of $12.34. The 52-week range is $22.24 to $40.17. On November 12, the stock printed one fresh 52-week high and four fresh 52-week lows.

What To Watch

Investors will monitor the company’s upcoming participation in investor conferences. The recent initiation of coverage by Raymond James provides a new baseline for analyst expectations.