Benjamin T. Dake Sells 3,432 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 3,432 shares of Aerovate Therapeutics stock in a transaction on Monday, March 25th. The shares were sold at an average price of $28.01, for a total value of $96,130.32. Following the completion of the transaction, the insider now directly owns 1,291 shares of the company’s stock, valued at $36,160.91. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Aerovate Therapeutics Stock Performance

Shares of AVTE opened at $29.57 on Friday. Aerovate Therapeutics, Inc. has a 52-week low of $9.41 and a 52-week high of $29.99. The business’s fifty day moving average is $22.19 and its 200-day moving average is $17.71. The firm has a market cap of $823.91 million, a price-to-earnings ratio of -10.27 and a beta of 1.18.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Aerovate Therapeutics in a research note on Friday, December 8th. They issued an “equal weight” rating and a $35.00 price target on the stock. Jefferies Financial Group assumed coverage on Aerovate Therapeutics in a research note on Monday. They issued a “buy” rating and a $65.00 price target on the stock.

Institutional Investors Weigh In On Aerovate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AVTE. UBS Group AG bought a new stake in shares of Aerovate Therapeutics in the 3rd quarter valued at about $26,000. Tower Research Capital LLC TRC lifted its stake in shares of Aerovate Therapeutics by 136.2% in the 1st 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 lifted its stake in shares of Aerovate Therapeutics by 318.0% in the 4th 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. lifted its stake in shares of Aerovate Therapeutics by 1,351.5% in the 2nd quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock valued at $57,000 after purchasing an additional 3,095 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Aerovate Therapeutics by 148.2% in the 4th quarter. Royal Bank of Canada now owns 3,475 shares of the company’s stock valued at $79,000 after purchasing an additional 2,075 shares during the period.

About Aerovate Therapeutics

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.