Affinity Asset Advisors LLC Purchases 200,000 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Affinity Asset Advisors LLC raised its stake in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 800,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Affinity Asset Advisors LLC owned about 2.77% of Aerovate Therapeutics worth $2,120,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Ieq Capital LLC bought a new position in shares of Aerovate Therapeutics during the 4th quarter valued at about $38,000. Russell Investments Group Ltd. raised its stake in Aerovate Therapeutics by 110.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company’s stock worth $40,000 after buying an additional 7,977 shares in the last quarter. Barclays PLC raised its holdings in Aerovate Therapeutics by 310.8% in the third quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after purchasing an additional 14,354 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Aerovate Therapeutics during the fourth quarter valued at about $63,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Aerovate Therapeutics in the 4th quarter valued at about $98,000.

Aerovate Therapeutics Stock Performance

Aerovate Therapeutics stock opened at $2.71 on Tuesday. Aerovate Therapeutics, Inc. has a one year low of $1.25 and a one year high of $25.58. The stock has a market cap of $78.55 million, a PE ratio of -0.91 and a beta of 0.95. The stock has a 50-day moving average of $2.49 and a two-hundred day moving average of $2.49.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). As a group, sell-side analysts predict that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

About Aerovate Therapeutics

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.