Deep Track Capital (AVTX) discloses 3.61M-share, 6.87% stake in Avalo

Rhea-AI Filing Summary

Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin report beneficial ownership of 3,610,000 shares of Avalo Therapeutics, Inc. common stock, representing 6.87% of the class as of June 30, 2026.

The reporting persons have shared voting and dispositive power over all 3,610,000 shares and no sole voting or dispositive power. The ownership percentage is based on 52,565,572 shares outstanding as of May 8, 2026, as disclosed by Avalo. David Kroin may be considered a control person of Deep Track Capital, LP, and the parties have agreed to a joint filing.

Key Figures

Shares beneficially owned: 3,610,000 shares Percent of class: 6.87% Shares outstanding baseline: 52,565,572 shares +3 more

6 metrics

Shares beneficially owned 3,610,000 shares Common stock of Avalo Therapeutics beneficially owned as of June 30, 2026

Percent of class 6.87% Ownership percentage of Avalo common stock based on shares outstanding

Shares outstanding baseline 52,565,572 shares Avalo common shares outstanding as of May 8, 2026 per Form 10-Q

Shared voting power 3,610,000 shares Shares over which reporting persons share power to vote or direct the vote

Sole voting power 0 shares Shares over which reporting persons have sole power to vote

Shared dispositive power 3,610,000 shares Shares over which reporting persons share power to dispose

Key Terms

beneficially owned, shared voting power, dispositive power, parent holding company, +2 more

6 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 3,610,000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared Voting Power 3,610,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 3,610,000.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

parent holding company financial

"If a parent holding company has filed this schedule, pursuant to (ii)(G)"

control person financial

"Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person."

A control person is an individual or entity that can significantly influence a company’s decisions and direction through ownership, voting power, or contractual rights—think of them as the captain who can steer the ship. Investors care because a control person’s choices affect corporate strategy, board appointments, and transactions that can raise or lower a stock’s value, and they often carry additional legal responsibilities and disclosure requirements to protect other shareholders.

joint filing statement regulatory

"JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k)"

FAQ

How much of Avalo Therapeutics (AVTX) does Deep Track Capital own?

Deep Track Capital and related reporting persons beneficially own 3,610,000 shares of Avalo Therapeutics common stock, representing 6.87% of the outstanding shares based on 52,565,572 shares outstanding as of May 8, 2026.

Who are the reporting persons in this Schedule 13G/A for Avalo Therapeutics (AVTX)?

The reporting persons are Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin. They filed jointly regarding their beneficial ownership of Avalo Therapeutics common stock and share voting and dispositive power over the reported shares.

What voting power does Deep Track report over Avalo Therapeutics (AVTX) shares?

The reporting persons have 0 shares with sole voting power and 3,610,000 shares with shared voting power. They also report shared dispositive power over the same 3,610,000 shares and no sole dispositive power.

How was the 6.87% ownership in Avalo Therapeutics (AVTX) calculated?

The 6.87% beneficial ownership is calculated by dividing 3,610,000 shares by 52,565,572 shares outstanding as of May 8, 2026, which Avalo disclosed in its Form 10-Q filed on May 13, 2026.

What is David Kroin’s role in the Deep Track filing for Avalo Therapeutics (AVTX)?

David Kroin is identified as a control person of Deep Track Capital, LP. He signs the filing as Managing Member of the General Partner of the Investment Adviser, as Director of the Master Fund, and in his individual capacity.

Is the Avalo Therapeutics (AVTX) stake held with sole or shared dispositive power?

The reporting persons hold shared dispositive power over 3,610,000 shares of Avalo Therapeutics common stock and have no sole dispositive power. This matches their reported shared voting power over the same number of shares.

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

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Available on EDGAR 08/14/2026 - 08:25 AM Accepted by SEC EDGAR 08/14/2026 - 08:24 AM Learn about SEC filing dates

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, $0.001 par value

(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

Deep Track Capital, LP

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 3,610,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,610,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,610,000.00

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)

6.87 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP Number(s): 05338F306

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,610,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,610,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,610,000.00

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)

6.87 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): 05338F306

1

Names of Reporting Persons

David Kroin

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 0.00
6	Shared Voting Power 3,610,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,610,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,610,000.00

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)

6.87 %

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: (i) Deep Track Capital, LP (ii) Deep Track Biotechnology Master Fund, Ltd. (iii) David Kroin
(b)	Address or principal business office or, if none, residence: (i) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (ii) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Delaware (ii) Cayman Islands (iii) United States
(d)	Title of class of securities: Common Stock, $0.001 par value
(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: 3,610,000
(b)	Percent of class: 6.87%
(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: 3,610,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3,610,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
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.

Deep Track Capital, LP

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	08/14/2026

Deep Track Biotechnology Master Fund, Ltd.

Signature:	/s/ David Kroin
Name/Title:	David Kroin, Director
Date:	08/14/2026

David Kroin

Signature:	/s/ David Kroin
Name/Title:	David Kroin
Date:	08/14/2026

Exhibit Information

Item 4: Information with respect to the Reporting Persons' ownership of the Common Stock as of June 30, 2026, is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is calculated using 52,565,572 shares outstanding as of May 8, 2026, according to the issuer's 10-Q filed with the SEC on May 13, 2026. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: August 14, 2026 Deep Track Capital, LP By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser Deep Track Biotechnology Master Fund, Ltd. By: /s/ David Kroin David Kroin, Director David Kroin By: /s/ David Kroin David Kroin