Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Benjamin T. Dake Sells 11,068 Shares

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 11,068 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $27.97, for a total value of $309,571.96. Following the completion of the transaction, the insider now owns 1,291 shares in the company, valued at $36,109.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Aerovate Therapeutics Stock Up 3.8 %

NASDAQ AVTE traded up $1.07 on Thursday, reaching $29.57. The stock had a trading volume of 216,915 shares, compared to its average volume of 119,992. The firm has a market capitalization of $823.82 million, a price-to-earnings ratio of -10.27 and a beta of 1.18. Aerovate Therapeutics, Inc. has a 12-month low of $9.41 and a 12-month high of $29.99. The stock has a fifty day moving average price of $21.99 and a two-hundred day moving average price of $17.62.

Institutional Trading of Aerovate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG purchased a new stake in Aerovate Therapeutics in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its position 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 valued at $55,000 after purchasing an additional 1,558 shares during the period. Legal & General Group Plc raised its position in Aerovate Therapeutics by 318.0% in the fourth quarter. Legal & General Group Plc now owns 3,235 shares of the company’s stock valued at $95,000 after purchasing an additional 2,461 shares during the period. Citigroup Inc. increased its position in shares of Aerovate Therapeutics by 1,351.5% during 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 during the period. Finally, Royal Bank of Canada increased its position in shares of Aerovate Therapeutics by 148.2% during the fourth quarter. Royal Bank of Canada now owns 3,475 shares of the company’s stock worth $79,000 after acquiring an additional 2,075 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Aerovate Therapeutics in a report on Monday. They issued a “buy” rating and a $65.00 price objective on the stock. Wells Fargo & Company assumed coverage on Aerovate Therapeutics in a report on Friday, December 8th. They issued an “equal weight” rating and a $35.00 price objective on the stock.

Aerovate Therapeutics Company Profile

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.