T. Rowe Price reports 9.5% stake in Avalo Therapeutics

Avalo Therapeutics Inc filing reports that T. Rowe Price Investment Management, Inc. holds 2,162,684 shares of common stock, equal to 9.5% of the class.

Rhea-AI Filing Summary

Avalo Therapeutics Inc filing reports that T. Rowe Price Investment Management, Inc. holds 2,162,684 shares of common stock, equal to 9.5% of the class. The filer states it denies beneficial ownership of the securities and the filing reflects ownership and voting/dispositive powers as reported.

Insights

Institutional Ownership Analyst

Major passive holding reported; position size and control rights are disclosed.

The filing shows 2,162,684 shares with sole voting and dispositive power, representing 9.5% of the outstanding common stock as stated. This signals a sizable position by a large asset manager according to the reported counts.

Further disclosures or amendments may clarify the filer’s claim denying beneficial ownership; subsequent filings could show changes in percentage if shares trade or if the issuer reports a differing outstanding share base.

Securities Compliance Counsel

Filing posture includes an express denial of beneficial ownership; compliance nuance matters.

The statement that the filer "hereby declares and affirms" the filing "shall not be construed as an admission" must be read alongside the Schedule 13G reporting fields. The schedule still discloses voting and dispositive powers and the 9.5% percentage.

Watch for any amended 13G/13D or explanatory footnotes that alter attribution or show changes in ownership classification; timing and additional footnotes determine reporting obligations.

Key Figures

Shares reported: 2,162,684 shares Percent of class: 9.5% Sole voting power: 2,162,684 shares +1 more

4 metrics

Shares reported 2,162,684 shares Amount beneficially owned as reported on Schedule 13G

Percent of class 9.5% Percent of common stock reported in Item 4(b)

Sole voting power 2,162,684 shares Sole power to vote per Item 4(c)(i)

Sole dispositive power 2,162,684 shares Sole power to dispose per Item 4(c)(iii)

Key Terms

Schedule 13G, Beneficially owned, Sole Dispositive Power

3 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: AVALO THERAPEUTICS INC"

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.

Beneficially owned regulatory

"Item 4. (a) Amount beneficially owned: 2162684"

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.

Sole Dispositive Power regulatory

"Item 4. (c)(iii) Sole power to dispose or to direct the disposition of: 2162684"

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.

FAQ

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

What stake does T. Rowe Price (AVTX) report?

T. Rowe Price reports ownership of 2,162,684 shares, representing 9.5% of Avalo Therapeutics' common stock. The schedule lists sole voting and dispositive power over those shares per the filing.

Does the filing say T. Rowe Price is the beneficial owner of AVTX shares?

The filing reports voting and dispositive powers for 2,162,684 shares yet includes a statement explicitly denying beneficial ownership. That denial appears verbatim alongside the ownership figures in the Schedule 13G.

What voting and disposition powers are reported in the 13G for AVTX?

The schedule shows sole voting power of 2,162,684 shares and sole dispositive power of 2,162,684; shared powers are reported as zero in the filing.

When was the Schedule 13G signed for Avalo Therapeutics (AVTX)?

The signature block shows the form was signed by Ellen York, Vice President on 05/15/2026, affirming the reported ownership and accompanying statement denying beneficial ownership.

Does this Schedule 13G trigger any immediate control change disclosures for AVTX?

The filing discloses a 9.5% position and voting/dispositive power totals. It does not state any change-of-control action; further material changes would require amended filings or other SEC reports as applicable.

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

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Accepted by SEC EDGAR 05/15/2026 - 10:06 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

AVALO THERAPEUTICS INC

(Name of Issuer)

COMMON STOCK

(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

T. Rowe Price Investment Management, Inc.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,162,684.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,162,684.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,162,684.00

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)

9.5 %

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: 1 LETTERMAN DRIVE, BLDG C, SUITE C3-350, SAN FRANCISCO, CA, 94129
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP Number(s): 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: 2162684
(b)	Percent of class: 9.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2162684
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2162684
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	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. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/15/2026