Insider Selling: Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Sells 6,853 Shares of Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 6,853 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $22.37, for a total value of $153,301.61. Following the sale, the insider now owns 1,291 shares of the company’s stock, valued at $28,879.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Aerovate Therapeutics Trading Up 2.1 %

AVTE stock traded up $0.45 during midday trading on Friday, hitting $22.05. The company’s stock had a trading volume of 218,786 shares, compared to its average volume of 130,901. Aerovate Therapeutics, Inc. has a 12 month low of $9.41 and a 12 month high of $32.42. The company has a 50 day moving average of $24.43 and a two-hundred day moving average of $19.08.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $35.00 price objective on shares of Aerovate Therapeutics in a research note on Monday, April 1st. Jefferies Financial Group assumed coverage on Aerovate Therapeutics in a research note on Monday, March 25th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating on shares of Aerovate Therapeutics in a research note on Thursday, April 4th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in shares of Aerovate Therapeutics by 4.0% during the 1st quarter. Rhumbline Advisers now owns 14,798 shares of the company’s stock worth $298,000 after acquiring an additional 566 shares in the last quarter. Barclays PLC raised its holdings in Aerovate Therapeutics by 22.0% during the 1st quarter. Barclays PLC now owns 4,720 shares of the company’s stock valued at $94,000 after buying an additional 850 shares during the period. Charles Schwab Investment Management Inc. grew its position in Aerovate Therapeutics by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,641 shares of the company’s stock valued at $722,000 after acquiring an additional 885 shares during the last quarter. JPMorgan Chase & Co. grew its position in Aerovate Therapeutics by 13.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,070 shares of the company’s stock valued at $138,000 after acquiring an additional 986 shares during the last quarter. Finally, UBS Group AG grew its position in Aerovate Therapeutics by 9.2% in the 4th quarter. UBS Group AG now owns 12,241 shares of the company’s stock valued at $277,000 after acquiring an additional 1,027 shares during the last quarter.

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.