Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Get Free Report) Director David S. Grayzel sold 11,882 shares of the business's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $28.15, for a total transaction of $334,478.30. Following the transaction, the director now directly owns 14,502 shares in the company, valued at approximately $408,231.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Aerovate Therapeutics Stock Performance
Aerovate Therapeutics stock opened at $26.89 on Friday. The company has a market capitalization of $749.16 million, a price-to-earnings ratio of -9.34 and a beta of 1.23. The company's 50 day simple moving average is $24.01 and its 200-day simple moving average is $18.73. Aerovate Therapeutics, Inc. has a 1 year low of $9.41 and a 1 year high of $32.42.
Analysts Set New Price Targets
Several equities analysts have weighed in on AVTE shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $35.00 target price on shares of Aerovate Therapeutics in a report on Monday, April 1st. Wedbush reiterated an "outperform" rating on shares of Aerovate Therapeutics in a report on Thursday, April 4th. Finally, Jefferies Financial Group initiated coverage on Aerovate Therapeutics in a research note on Monday, March 25th. They set a "buy" rating and a $65.00 target price for the company.
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Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. UBS Group AG purchased a new position in Aerovate Therapeutics during the 3rd quarter worth $26,000. Tower Research Capital LLC TRC lifted its position in Aerovate Therapeutics by 136.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company's stock valued at $55,000 after purchasing an additional 1,558 shares during the period. Citigroup Inc. boosted its holdings in Aerovate Therapeutics by 1,351.5% in 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 in the last quarter. BNP Paribas Arbitrage SNC acquired a new position in Aerovate Therapeutics during the 3rd quarter worth approximately $66,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Aerovate Therapeutics by 156.7% in the 2nd quarter. Wells Fargo & Company MN now owns 4,200 shares of the company's stock valued at $72,000 after buying an additional 2,564 shares during the period.
Aerovate Therapeutics Company Profile
(
Get Free Report)
Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops 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.
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