OrbiMed reports 475,165 AVTX shares (2.1%)

OrbiMed Advisors LLC reports beneficial ownership of 475,165 shares of Avalo Therapeutics common stock, representing 2.1% of the class as of 03/31/2026.

Rhea-AI Filing Summary

OrbiMed Advisors LLC reports beneficial ownership of 475,165 shares of Avalo Therapeutics common stock, representing 2.1% of the class as of 03/31/2026. The filing is an Amendment No. 3 to a Schedule 13G/A and states the shares are held with shared voting and dispositive power.

Insights

Institutional Ownership Analyst

OrbiMed holds a modest 2.1% stake in Avalo (475,165 shares).

OrbiMed's filing discloses 475,165 shares and a 2.1% ownership position as of 03/31/2026. The position size is below 5%, consistent with Schedule 13G treatment for passive or qualified investors.

Future filings may show changes in stake; timing and trading intentions are not stated in this excerpt.

Securities Compliance Counsel

The amendment clarifies beneficial ownership and voting/dispositive arrangements.

The filing notes that OrbiMed exercises investment and voting power through a management committee and that committee members disclaim beneficial ownership. This attribution language aligns with common passive investment disclosures on a Schedule 13G/A.

Signature dated 05/15/2026 finalizes the amendment.

Key Figures

Shares beneficially owned: 475,165 shares Percent of class: 2.1% CUSIP: 05338F306 +2 more

5 metrics

Shares beneficially owned 475,165 shares Amount reported on Schedule 13G/A

Percent of class 2.1% Ownership percentage as reported

CUSIP 05338F306 Avalo Therapeutics common stock identifier

Shared voting power 475,165 shares Number with shared voting authority

Shared dispositive power 475,165 shares Number with shared dispositive authority

Key Terms

Schedule 13G/A, beneficial ownership, shared dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 3 ) Avalo Therapeutics, Inc. Common Stock"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial ownership financial

"Amount beneficially owned: 475,165 (b) Percent of class: 2.1%"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared dispositive power governance

"Shared power to dispose or to direct the disposition of: 475,165"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does OrbiMed hold in Avalo Therapeutics (AVTX)?

OrbiMed reports beneficial ownership of 475,165 shares, equal to 2.1% of common stock as of 03/31/2026. The filing classifies the position under Schedule 13G/A and shows shared voting and dispositive power over these shares.

Does OrbiMed have sole voting control over AVTX shares?

No. The filing shows 0 shares with sole voting power and 475,165 shares with shared voting power. OrbiMed reports shared dispositive power over the same 475,165 shares, indicating committee-based control, not sole authority.

Is OrbiMed required to file Schedule 13G/A for this holding in AVTX?

Yes. The Schedule 13G/A amendment documents holdings where an investor reports beneficial ownership under qualifying passive/qualified investor rules. This filing amends prior disclosures and is signed by a reporting member on 05/15/2026.

Are the named committee members treated as beneficial owners of AVTX shares?

No. The filing states that committee members Carl L. Gordon, Sven H. Borho, and W. Carter Neild each disclaim beneficial ownership. OrbiMed exercises power through the committee while the individuals disclaim personal ownership of the reported shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 04:31 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Avalo Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

05338F306

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 05338F306

1

Names of Reporting Persons

OrbiMed Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 475,165.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 475,165.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

475,165.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Avalo Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 1500 Liberty Ridge Drive, Suite 321 Wayne, Pennsylvania 19087
Item 2.
(a)	Name of person filing: OrbiMed Advisors LLC
(b)	Address or principal business office or, if none, residence: 601 Lexington Avenue, 54th Floor New York, NY 10022
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 05338F306
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 475,165
(b)	Percent of class: 2.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 475,165
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 475,165
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Reporting Persons hold 2.1% of the shares of Common Stock in the aggregate on behalf of other persons who have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, such securities. OrbiMed Advisors LLC exercises investment and voting power over the shares of Common Stock through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares of Common Stock reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

OrbiMed Advisors LLC

Signature:	/s/ Carl L. Gordon
Name/Title:	Carl L. Gordon / Member of OrbiMed Advisors LLC
Date:	05/15/2026