Aerovate Therapeutics (NASDAQ:AVTE) Sets New 12-Month High at $30.73

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Free Report)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $30.73 and last traded at $28.72, with a volume of 14079 shares changing hands. The stock had previously closed at $29.57.

Analyst Ratings Changes

AVTE has been the topic of several research reports. Jefferies Financial Group assumed coverage on shares of Aerovate Therapeutics in a report on Monday, March 25th. They issued a “buy” rating and a $65.00 price target on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $35.00 price target on shares of Aerovate Therapeutics in a research note on Monday.

Get Our Latest Stock Report on AVTE

Aerovate Therapeutics Trading Down 3.8 %

The firm has a fifty day moving average price of $22.78 and a 200 day moving average price of $18.11. The firm has a market cap of $824.10 million, a PE ratio of -10.27 and a beta of 1.23.

Insider Buying and Selling at Aerovate Therapeutics

In other news, insider Benjamin T. Dake sold 3,432 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $28.01, for a total transaction 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 filing with the SEC, which is accessible through this link. In related news, insider Benjamin T. Dake sold 3,432 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $28.01, for a total transaction of $96,130.32. Following the completion of the sale, the insider now owns 1,291 shares in the company, valued at $36,160.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hunter Gillies sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $19.50, for a total value of $78,000.00. Following the sale, the insider now owns 3,251 shares of the company’s stock, valued at approximately $63,394.50. The disclosure for this sale can be found here. Insiders sold a total of 42,563 shares of company stock valued at $1,010,853 in the last three months. 19.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aerovate Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG purchased a new stake in Aerovate Therapeutics in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its stake in shares of Aerovate Therapeutics by 136.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock worth $55,000 after purchasing an additional 1,558 shares during the last quarter. Citigroup Inc. raised its stake in shares of Aerovate Therapeutics by 1,351.5% during the second quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock worth $57,000 after purchasing an additional 3,095 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in shares of Aerovate Therapeutics during the third quarter worth approximately $66,000. Finally, Wells Fargo & Company MN raised its stake in shares of Aerovate Therapeutics by 156.7% during the second quarter. Wells Fargo & Company MN now owns 4,200 shares of the company’s stock worth $72,000 after purchasing an additional 2,564 shares during the last quarter.

About Aerovate Therapeutics

(Get Free Report)

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.

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