Benjamin T. Dake Sells 6,853 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Free Report) insider Benjamin T. Dake sold 6,853 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $22.37, for a total value of $153,301.61. Following the completion of the sale, the insider now directly owns 1,291 shares of the company’s stock, valued at $28,879.67. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Aerovate Therapeutics Stock Up 2.1 %

Shares of NASDAQ:AVTE opened at $22.05 on Monday. The company has a market cap of $614.31 million, a P/E ratio of -7.66 and a beta of 1.23. Aerovate Therapeutics, Inc. has a 52 week low of $9.41 and a 52 week high of $32.42. The business has a fifty day simple moving average of $24.44 and a 200-day simple moving average of $19.23.

Aerovate Therapeutics (NASDAQ:AVTEGet Free Report) last announced its quarterly earnings data on Monday, March 25th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.06). Sell-side analysts expect that Aerovate Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aerovate Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG purchased a new stake in shares of Aerovate Therapeutics in the third quarter valued at $26,000. Tower Research Capital LLC TRC grew its position in Aerovate Therapeutics by 136.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock valued at $55,000 after acquiring an additional 1,558 shares during the period. Legal & General Group Plc grew its position in Aerovate Therapeutics by 318.0% during the fourth quarter. Legal & General Group Plc now owns 3,235 shares of the company’s stock valued at $95,000 after acquiring an additional 2,461 shares during the period. Citigroup Inc. grew its position in Aerovate Therapeutics by 1,351.5% during the second quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock valued at $57,000 after acquiring an additional 3,095 shares during the period. Finally, Royal Bank of Canada grew its position in Aerovate Therapeutics by 148.2% during the fourth quarter. Royal Bank of Canada now owns 3,475 shares of the company’s stock valued at $79,000 after acquiring an additional 2,075 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVTE shares. Jefferies Financial Group started coverage on Aerovate Therapeutics in a report on Monday, March 25th. They set a “buy” rating and a $65.00 price objective for the company. Wedbush reissued an “outperform” rating on shares of Aerovate Therapeutics in a report on Thursday, April 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $35.00 price target on shares of Aerovate Therapeutics in a report on Monday, April 1st.

View Our Latest Research Report on AVTE

About Aerovate Therapeutics

(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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Insider Buying and Selling by Quarter for Aerovate Therapeutics (NASDAQ:AVTE)

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