Marinus Verwijs Sells 1,981 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Marinus Verwijs sold 1,981 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $21.02, for a total transaction of $41,640.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Marinus Verwijs also recently made the following trade(s):

• On Tuesday, March 19th, Marinus Verwijs sold 5,300 shares of Aerovate Therapeutics stock. The stock was sold at an average price of $26.08, for a total value of $138,224.00.

Aerovate Therapeutics Stock Performance

NASDAQ:AVTE opened at $20.29 on Friday. The firm’s fifty day simple moving average is $24.72 and its 200 day simple moving average is $19.76. Aerovate Therapeutics, Inc. has a twelve month low of $9.41 and a twelve month high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings data on Monday, March 25th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.06). Sell-side analysts anticipate that Aerovate Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AVTE has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on Aerovate Therapeutics in a research note on Monday, March 25th. They set a “buy” rating and a $65.00 target price for the company. Wells Fargo & Company restated an “overweight” rating and set a $35.00 price objective on shares of Aerovate Therapeutics in a research report on Monday, April 1st. Finally, Wedbush reissued an “outperform” rating on shares of Aerovate Therapeutics in a research report on Thursday, April 4th.

Institutional Trading of Aerovate Therapeutics

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

Aerovate Therapeutics Company Profile

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.