Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Benjamin T. Dake Sells 10,284 Shares

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Rating) insider Benjamin T. Dake sold 10,284 shares of the business’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $25.98, for a total value of $267,178.32. Following the completion of the sale, the insider now directly owns 1,609 shares of the company’s stock, valued at $41,801.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Benjamin T. Dake also recently made the following trade(s):

  • On Friday, November 11th, Benjamin T. Dake sold 6,198 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $20.69, for a total value of $128,236.62.
  • On Tuesday, November 8th, Benjamin T. Dake sold 8,373 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $18.09, for a total value of $151,467.57.
  • On Monday, October 17th, Benjamin T. Dake sold 4,185 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $20.16, for a total value of $84,369.60.
  • On Friday, October 14th, Benjamin T. Dake sold 110 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $20.05, for a total value of $2,205.50.

Aerovate Therapeutics Trading Down 2.9 %

NASDAQ:AVTE opened at $24.90 on Tuesday. The firm has a market capitalization of $607.81 million, a PE ratio of -15.86 and a beta of 0.80. The stock has a 50 day moving average of $22.42 and a 200-day moving average of $20.06. Aerovate Therapeutics, Inc. has a 52 week low of $7.74 and a 52 week high of $30.79.

Aerovate Therapeutics (NASDAQ:AVTEGet Rating) last posted its earnings results on Monday, November 14th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.06). As a group, analysts predict that Aerovate Therapeutics, Inc. will post -2.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wedbush boosted their price objective on Aerovate Therapeutics from $27.00 to $54.00 in a report on Monday, December 12th. BTIG Research raised Aerovate Therapeutics from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, December 6th.

Hedge Funds Weigh In On Aerovate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Aerovate Therapeutics by 9.9% during the third quarter. Bank of New York Mellon Corp now owns 27,546 shares of the company’s stock worth $457,000 after buying an additional 2,479 shares during the period. Fred Alger Management LLC boosted its position in shares of Aerovate Therapeutics by 5.5% during the third quarter. Fred Alger Management LLC now owns 182,281 shares of the company’s stock worth $3,022,000 after buying an additional 9,575 shares during the period. BNP Paribas Arbitrage SNC acquired a new position in shares of Aerovate Therapeutics during the third quarter worth approximately $66,000. TCG Crossover Management LLC boosted its position in shares of Aerovate Therapeutics by 7.9% during the third quarter. TCG Crossover Management LLC now owns 959,572 shares of the company’s stock worth $15,910,000 after buying an additional 70,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Aerovate Therapeutics by 5.4% during the third quarter. Vanguard Group Inc. now owns 466,232 shares of the company’s stock worth $7,729,000 after buying an additional 23,831 shares during the period.

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

Insider Buying and Selling by Quarter for Aerovate Therapeutics (NASDAQ:AVTE)

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