Q3 2022 Earnings Estimate for Aerovate Therapeutics, Inc. Issued By Wedbush (NASDAQ:AVTE)

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Rating) – Stock analysts at Wedbush lifted their Q3 2022 earnings estimates for Aerovate Therapeutics in a note issued to investors on Monday, September 19th. Wedbush analyst L. Moussatos now expects that the company will post earnings of ($0.49) per share for the quarter, up from their prior forecast of ($0.50). Wedbush has a “Outperform” rating and a $27.00 price objective on the stock. The consensus estimate for Aerovate Therapeutics’ current full-year earnings is ($1.94) per share. Wedbush also issued estimates for Aerovate Therapeutics’ Q4 2022 earnings at ($0.49) EPS, FY2022 earnings at ($1.92) EPS, Q1 2023 earnings at ($0.48) EPS, Q2 2023 earnings at ($0.48) EPS, Q3 2023 earnings at ($0.48) EPS, Q4 2023 earnings at ($0.47) EPS, FY2023 earnings at ($1.91) EPS, FY2024 earnings at ($1.86) EPS, FY2025 earnings at ($2.07) EPS and FY2026 earnings at ($2.71) EPS.

Aerovate Therapeutics (NASDAQ:AVTEGet Rating) last released its earnings results on Monday, August 15th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03).

Separately, BTIG Research cut shares of Aerovate Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 16th.

Aerovate Therapeutics Stock Down 0.9 %

AVTE opened at $15.60 on Wednesday. The stock has a market cap of $380.80 million, a price-to-earnings ratio of -12.28 and a beta of 1.31. Aerovate Therapeutics has a twelve month low of $7.74 and a twelve month high of $27.83. The company’s 50-day moving average price is $20.04 and its two-hundred day moving average price is $16.08.

Institutional Trading of Aerovate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. increased its holdings in Aerovate Therapeutics by 21.3% during the 1st quarter. American International Group Inc. now owns 6,494 shares of the company’s stock worth $119,000 after acquiring an additional 1,140 shares during the period. Amalgamated Bank bought a new stake in Aerovate Therapeutics during the 1st quarter worth approximately $27,000. Russell Investments Group Ltd. bought a new stake in Aerovate Therapeutics during the 2nd quarter worth approximately $32,000. JPMorgan Chase & Co. increased its holdings in Aerovate Therapeutics by 49.8% during the 1st quarter. JPMorgan Chase & Co. now owns 9,007 shares of the company’s stock worth $165,000 after acquiring an additional 2,995 shares during the period. Finally, Golden State Equity Partners increased its holdings in Aerovate Therapeutics by 31.7% during the 1st quarter. Golden State Equity Partners now owns 20,980 shares of the company’s stock worth $385,000 after acquiring an additional 5,050 shares during the period.

Insider Activity at Aerovate Therapeutics

In related news, insider Benjamin T. Dake sold 1,347 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $23.93, for a total transaction of $32,233.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Benjamin T. Dake sold 1,347 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $23.93, for a total transaction of $32,233.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ralph Niven sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $21.18, for a total transaction of $47,655.00. Following the sale, the insider now owns 1,609 shares in the company, valued at $34,078.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,346 shares of company stock worth $1,090,777. 17.80% of the stock is owned by corporate insiders.

About Aerovate Therapeutics

(Get Rating)

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. The company 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.

Further Reading

Earnings History and Estimates for Aerovate Therapeutics (NASDAQ:AVTE)

Receive News & Ratings for Aerovate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerovate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.