Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Get Free Report) insider George A. Eldridge sold 7,500 shares of Aerovate Therapeutics stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.85, for a total value of $201,375.00. Following the sale, the insider now owns 1,960 shares in the company, valued at $52,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Aerovate Therapeutics Trading Down 6.1 %
Aerovate Therapeutics stock opened at $25.24 on Friday. The business's fifty day simple moving average is $24.15 and its two-hundred day simple moving average is $18.81. Aerovate Therapeutics, Inc. has a 12 month low of $9.41 and a 12 month high of $32.42. The company has a market capitalization of $703.19 million, a price-to-earnings ratio of -8.76 and a beta of 1.23.
Institutional Investors Weigh In On Aerovate Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG bought a new stake in Aerovate Therapeutics in the third quarter worth $26,000. Tower Research Capital LLC TRC boosted its holdings 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 worth $55,000 after acquiring an additional 1,558 shares in the last quarter. Citigroup Inc. boosted its holdings in Aerovate Therapeutics by 1,351.5% in the second quarter. Citigroup Inc. now owns 3,324 shares of the company's stock worth $57,000 after acquiring an additional 3,095 shares in the last quarter. BNP Paribas Arbitrage SNC bought a new stake in Aerovate Therapeutics in the third quarter worth $66,000. Finally, Wells Fargo & Company MN boosted its holdings in Aerovate Therapeutics by 156.7% in the second quarter. Wells Fargo & Company MN now owns 4,200 shares of the company's stock worth $72,000 after acquiring an additional 2,564 shares in the last quarter.
Wall Street Analysts Forecast Growth
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Several research firms recently weighed in on AVTE. Wells Fargo & Company restated an "overweight" rating and set a $35.00 price target on shares of Aerovate Therapeutics in a research report on Monday, April 1st. Wedbush restated an "outperform" rating on shares of Aerovate Therapeutics in a research report on Thursday, April 4th. Finally, Jefferies Financial Group began coverage on Aerovate Therapeutics in a research report on Monday, March 25th. They set a "buy" rating and a $65.00 price target on the stock.
View Our Latest Stock Analysis on Aerovate Therapeutics
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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