Aerovate Therapeutics (NASDAQ:AVTE) Stock Price Up 9.4%

Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Rating) rose 9.4% on Thursday . The company traded as high as $25.94 and last traded at $25.89. Approximately 1,203 shares were traded during trading, a decline of 99% from the average daily volume of 157,631 shares. The stock had previously closed at $23.67.

Aerovate Therapeutics Trading Up 0.1 %

The business has a fifty day moving average price of $15.73 and a two-hundred day moving average price of $13.59.

Aerovate Therapeutics (NASDAQ:AVTE – Get Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.19). As a group, analysts expect that Aerovate Therapeutics, Inc. will post -1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AVTE. Amalgamated Bank purchased a new position in Aerovate Therapeutics in the first quarter valued at about $27,000. Russell Investments Group Ltd. purchased a new position in Aerovate Therapeutics in the second quarter valued at about $32,000. New York State Common Retirement Fund grew its stake in Aerovate Therapeutics by 165.0% in the fourth quarter. New York State Common Retirement Fund now owns 4,770 shares of the company’s stock valued at $56,000 after purchasing an additional 2,970 shares in the last quarter. American International Group Inc. grew its stake in Aerovate Therapeutics by 21.3% in the first quarter. American International Group Inc. now owns 6,494 shares of the company’s stock valued at $119,000 after purchasing an additional 1,140 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Aerovate Therapeutics by 49.8% in the first quarter. JPMorgan Chase & Co. now owns 9,007 shares of the company’s stock valued at $165,000 after purchasing an additional 2,995 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Aerovate Therapeutics Company Profile

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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. The company 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.