Aerovate Therapeutics (AVTE) to Release Quarterly Earnings on Wednesday

Aerovate Therapeutics (NASDAQ:AVTE) is scheduled to post its quarterly earnings results on Wednesday, March 27th.

Aerovate Therapeutics Price Performance

Shares of Aerovate Therapeutics stock opened at $26.95 on Tuesday. Aerovate Therapeutics has a 52-week low of $9.41 and a 52-week high of $28.39. The firm has a market cap of $745.71 million, a price-to-earnings ratio of -9.80 and a beta of 1.18. The stock has a 50-day simple moving average of $21.70 and a 200-day simple moving average of $17.46.

Insider Buying and Selling at Aerovate Therapeutics

In related news, insider Hunter Gillies sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is available through this link. In other news, insider Hunter Gillies sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were 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 directly owns 3,251 shares in the company, valued at $63,394.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ralph Niven sold 4,600 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $17.45, for a total transaction of $80,270.00. Following the sale, the insider now directly owns 1,609 shares in the company, valued at $28,077.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,188 shares of company stock valued at $608,213. Corporate insiders own 19.30% of the company’s stock.

Institutional Trading of Aerovate Therapeutics

Several hedge funds have recently modified their holdings of AVTE. Point72 Asset Management L.P. bought a new position in Aerovate Therapeutics in the fourth quarter valued at $9,991,000. Citadel Advisors LLC bought a new stake in Aerovate Therapeutics during the 2nd quarter worth approximately $5,007,000. Soleus Capital Management L.P. bought a new stake in shares of Aerovate Therapeutics in the 4th quarter valued at $6,362,000. FMR LLC lifted its position in shares of Aerovate Therapeutics by 24.9% during the 1st quarter. FMR LLC now owns 570,965 shares of the company’s stock valued at $11,516,000 after acquiring an additional 113,778 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Aerovate Therapeutics by 14.4% during the 3rd quarter. Vanguard Group Inc. now owns 599,102 shares of the company’s stock valued at $8,130,000 after acquiring an additional 75,535 shares during the period.

Wall Street Analysts Forecast Growth

AVTE has been the subject of several research reports. Jefferies Financial Group assumed coverage on Aerovate Therapeutics in a report on Monday. They set a “buy” rating and a $65.00 price target for the company. Wells Fargo & Company began coverage on Aerovate Therapeutics in a report on Friday, December 8th. They issued an “equal weight” rating and a $35.00 price target for the company.

About Aerovate Therapeutics

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.