Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes Sells 11,357 Shares

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes sold 11,357 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $20.34, for a total value of $231,001.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Timothy P. Noyes also recently made the following trade(s):

• On Tuesday, April 16th, Timothy P. Noyes sold 10,000 shares of Aerovate Therapeutics stock. The stock was sold at an average price of $24.70, for a total transaction of $247,000.00.
• On Monday, April 1st, Timothy P. Noyes sold 10,000 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00.

Aerovate Therapeutics Price Performance

Shares of AVTE stock opened at $20.29 on Friday. The business has a 50 day simple moving average of $24.71 and a 200 day simple moving average of $19.69. The firm has a market capitalization of $583.13 million, a price-to-earnings ratio of -7.05 and a beta of 1.40. Aerovate Therapeutics, Inc. has a 12-month low of $9.41 and a 12-month high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last issued its quarterly earnings results on Monday, March 25th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.06). On average, equities analysts anticipate that Aerovate Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Eventide Asset Management LLC bought a new position in Aerovate Therapeutics during the 4th quarter valued at $276,000. Alps Advisors Inc. grew its holdings in Aerovate Therapeutics by 11.3% during the third quarter. Alps Advisors Inc. now owns 20,395 shares of the company’s stock worth $277,000 after acquiring an additional 2,075 shares during the period. Swiss National Bank raised its position in Aerovate Therapeutics by 30.9% in the third quarter. Swiss National Bank now owns 21,201 shares of the company’s stock worth $288,000 after acquiring an additional 5,000 shares in the last quarter. Silverarc Capital Management LLC bought a new position in shares of Aerovate Therapeutics during the 3rd quarter valued at about $1,357,000. Finally, Vestal Point Capital LP bought a new stake in Aerovate Therapeutics during the fourth quarter worth approximately $9,052,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVTE. Wedbush reissued an “outperform” rating on shares of Aerovate Therapeutics in a report on Thursday, April 4th. Wells Fargo & Company reissued an “overweight” rating and set a $35.00 price target on shares of Aerovate Therapeutics in a report on Monday, April 1st. Finally, Jefferies Financial Group started coverage on shares of Aerovate Therapeutics in a report on Monday, March 25th. They issued a “buy” rating and a $65.00 price objective on the stock.

About Aerovate Therapeutics

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops 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.