[SCHEDULE 13G/A] Avalo Therapeutics, Inc. Amended Passive Investment Disclosure
Avoro reports 4.44% stake in Avalo Therapeutics
Avalo Therapeutics, Inc. received an amended Schedule 13G filing indicating that Avoro Capital Advisors LLC and Behzad Aghazadeh collectively report beneficial ownership of 2,333,333 shares of Avalo common stock.
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Avalo Therapeutics, Inc. received an amended Schedule 13G filing indicating that Avoro Capital Advisors LLC and Behzad Aghazadeh collectively report beneficial ownership of 2,333,333 shares of Avalo common stock. This represents 4.44% of the outstanding common stock, based on 52,565,572 shares outstanding as of May 8, 2026. The reporting persons each have sole voting and sole dispositive power over these shares and no shared voting or shared dispositive power. The stake is held for investment purposes on behalf of Avoro Life Sciences Fund LLC, and the filers state that the filing should not be construed as an admission of beneficial ownership for all purposes.
Key Figures
Shares beneficially owned:2,333,333 sharesOwnership percentage:4.44%Shares outstanding:52,565,572 shares+2 more
5 metrics
Shares beneficially owned2,333,333 sharesCommon stock of Avalo Therapeutics reported by each reporting person
Ownership percentage4.44%Portion of Avalo Therapeutics common stock class beneficially owned
Shares outstanding52,565,572 sharesAvalo Therapeutics common stock outstanding as of May 8, 2026
Sole voting power2,333,333 sharesShares over which each reporting person has sole voting power
Sole dispositive power2,333,333 sharesShares over which each reporting person has sole dispositive power
Key Terms
beneficial owner, Sole Voting Power, Sole Dispositive Power, Schedule 13G, +1 more
5 terms
beneficial ownerregulatory
"The filing of this statement should not be construed as an admission that any Reporting Person is, for purposes of Section 13 of the Act, the beneficial owner"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Sole Voting Powerfinancial
"5 | Sole Voting Power 2,333,333.00 6 | Shared Voting Power 0.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
Sole Dispositive Powerfinancial
"7 | Sole Dispositive Power 2,333,333.00 8 | Shared Dispositive Power 0.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Schedule 13Gregulatory
"The filing of this statement should not be construed as an admission that any Reporting Person is, for purposes of Section 13 of the Act"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
investment advisory and management servicesfinancial
"Avoro Capital Advisors LLC, a Delaware limited liability company ("Avoro"), which provides investment advisory and management services"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What ownership stake in AVTX does Avoro Capital Advisors report?
Avoro Capital Advisors LLC and Behzad Aghazadeh report beneficial ownership of 2,333,333 shares of Avalo Therapeutics (AVTX) common stock, representing 4.44% of the outstanding shares based on 52,565,572 shares outstanding as of May 8, 2026.
How much of Avalo Therapeutics’ outstanding stock is referenced in this 13G/A?
The ownership percentage is calculated using 52,565,572 shares of Avalo Therapeutics (AVTX) common stock outstanding as of May 8, 2026, as stated in the company’s Form 10-Q for the quarter ended March 31, 2026.
What percentage of AVTX does Avoro Capital Advisors and Behzad Aghazadeh hold?
They report beneficial ownership of 4.44% of Avalo Therapeutics (AVTX) common stock. This percentage is based on 52,565,572 shares outstanding, with the reporting persons controlling 2,333,333 shares for investment purposes.
Do the reporting persons share voting or dispositive power over AVTX shares?
No. Each reporting person reports sole voting power and sole dispositive power over 2,333,333 shares of AVTX, and zero shared voting and zero shared dispositive power over Avalo Therapeutics common stock.
Who are the reporting persons in this Avalo Therapeutics (AVTX) Schedule 13G/A?
The reporting persons are Avoro Capital Advisors LLC, a Delaware investment adviser, and Behzad Aghazadeh, a U.S. citizen who serves as Avoro’s portfolio manager and controlling person, holding the 2,333,333 AVTX shares for investment purposes.
Is the reported AVTX ownership above or below 5 percent of the class?
The filing states ownership of 4.44% of Avalo Therapeutics (AVTX) common stock, which is 5 percent or less of the class. Item 5 notes that the holding represents ownership of 5 percent or less.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Avalo Therapeutics, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
05338F306
(CUSIP Number)
06/30/2026
(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
Avoro Capital 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
2,333,333.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,333,333.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,333,333.00
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)
4.44 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
05338F306
1
Names of Reporting Persons
Behzad Aghazadeh
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,333,333.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,333,333.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,333,333.00
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)
4.44 %
12
Type of Reporting Person (See Instructions)
HC, IN
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, PA 19087
Item 2.
(a)
Name of person filing:
This statement is filed by: (i) Avoro Capital Advisors LLC, a Delaware limited liability company ("Avoro"), which provides investment advisory and management services and has acquired the shares of common stock, par value $0.001 per share ("Common Stock"), of Avalo Therapeutics, Inc., a Delaware corporation (the "Company"), solely for investment purposes on behalf of Avoro Life Sciences Fund LLC, a Delaware limited liability company, and (ii) Behzad Aghazadeh ("Dr. Aghazadeh," and together with Avoro, the "Reporting Persons"), who serves as the portfolio manager and controlling person of Avoro.
The filing of this statement should not be construed as an admission that any Reporting Person is, for purposes of Section 13 of the Act, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 110 Greene Street, Suite 800, New York, NY 10012.
(c)
Citizenship:
Avoro is a Delaware limited liability company. Dr. Aghazadeh is a United States citizen.
(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:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 52,565,572 shares of Common Stock outstanding as of May 8, 2026, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, filed with the Securities and Exchange Commission on May 13, 2026.
(b)
Percent of class:
4.44%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
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.
See Item 2(a).
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 acquired and are held in the ordinary course of business and 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.
Avoro Capital Advisors LLC
Signature:
/s/ Scott Epstein
Name/Title:
Scott Epstein, Chief Operating Officer and Chief Compliance Officer
