Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report) shares rose 1.8% during trading on Thursday . The company traded as high as $22.00 and last traded at $21.40. Approximately 506,170 shares traded hands during trading, an increase of 845% from the average session volume of 53,591 shares. The stock had previously closed at $21.02.
Aerovate Therapeutics Stock Performance
The stock has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $19.36. The stock has a market capitalization of $620.28 million, a P/E ratio of -7.16 and a beta of 0.95.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in Aerovate Therapeutics by 12.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 352,669 shares of the company’s stock valued at $885,000 after acquiring an additional 38,300 shares during the period. Jane Street Group LLC bought a new stake in shares of Aerovate Therapeutics during the first quarter valued at approximately $28,000. Rhumbline Advisers boosted its holdings in shares of Aerovate Therapeutics by 67.3% in the first quarter. Rhumbline Advisers now owns 22,750 shares of the company’s stock valued at $57,000 after purchasing an additional 9,154 shares during the period. Finally, AQR Capital Management LLC raised its position in Aerovate Therapeutics by 14.7% during the 1st quarter. AQR Capital Management LLC now owns 21,633 shares of the company’s stock valued at $54,000 after purchasing an additional 2,779 shares in the last quarter.
About Aerovate Therapeutics
Aerovate Therapeutics is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with debilitating pulmonary diseases. By leveraging a proprietary aerosol delivery platform, the company aims to deliver potent small-molecule anti-fibrotic and anti-inflammatory agents directly to the lungs, thereby maximizing local drug exposure while minimizing systemic side effects.
The company’s lead product candidate is an inhaled formulation of an established anti-fibrotic agent currently in early-phase clinical trials for the treatment of idiopathic pulmonary fibrosis (IPF).
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