Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report)’s share price traded up 7.6% on Tuesday . The company traded as high as $19.79 and last traded at $19.51. 16,929 shares were traded during mid-day trading, a decline of 81% from the average session volume of 91,151 shares. The stock had previously closed at $18.14.
Analyst Ratings Changes
A number of analysts recently commented on AVTE shares. Wells Fargo & Company started coverage on shares of Aerovate Therapeutics in a report on Friday, December 8th. They set an “equal weight” rating and a $35.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $48.00 price target on shares of Aerovate Therapeutics in a research note on Tuesday, November 14th.
Aerovate Therapeutics Stock Performance
The stock’s fifty day simple moving average is $19.18 and its 200-day simple moving average is $15.71. The company has a market capitalization of $552.57 million, a PE ratio of -7.08 and a beta of 1.12.
Aerovate Therapeutics (NASDAQ:AVTE – Get Free Report) last announced its quarterly earnings data on Monday, November 13th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.01). On average, equities analysts anticipate that Aerovate Therapeutics, Inc. will post -2.85 EPS for the current year.
Insider Buying and Selling
In other Aerovate Therapeutics news, insider Hunter Gillies sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $19.50, for a total value of $78,000.00. Following the completion of the transaction, the insider now owns 3,251 shares in the company, valued at approximately $63,394.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Aerovate Therapeutics news, insider Hunter Gillies sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $19.50, for a total transaction of $78,000.00. Following the completion of the transaction, the insider now directly owns 3,251 shares of the company’s stock, valued at approximately $63,394.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ralph Niven sold 4,600 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $19.16, for a total value of $88,136.00. Following the sale, the insider now owns 1,609 shares in the company, valued at approximately $30,828.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,317 shares of company stock valued at $787,331. 19.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Aerovate Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG bought a new stake in Aerovate Therapeutics during the third quarter worth approximately $26,000. Strs Ohio acquired a new position in Aerovate Therapeutics in the 2nd quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its position in Aerovate Therapeutics by 136.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock worth $55,000 after purchasing an additional 1,558 shares in the last quarter. Citigroup Inc. raised its stake in Aerovate Therapeutics by 1,351.5% during the 2nd quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock valued at $57,000 after purchasing an additional 3,095 shares during the period. Finally, BNP Paribas Arbitrage SNC purchased a new stake in shares of Aerovate Therapeutics in the third quarter valued at $66,000.
Aerovate Therapeutics Company Profile
Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. It focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.