Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes Sells 10,000 Shares of Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Free Report) CEO Timothy P. Noyes sold 10,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Aerovate Therapeutics Stock Performance

NASDAQ:AVTE opened at $29.12 on Thursday. Aerovate Therapeutics, Inc. has a fifty-two week low of $9.41 and a fifty-two week high of $32.42. The company has a 50 day moving average price of $22.98 and a 200 day moving average price of $18.19. The stock has a market capitalization of $811.37 million, a P/E ratio of -10.11 and a beta of 1.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its position in Aerovate Therapeutics by 4.0% in the 1st quarter. Rhumbline Advisers now owns 14,798 shares of the company’s stock valued at $298,000 after acquiring an additional 566 shares in the last quarter. Barclays PLC increased its stake in Aerovate Therapeutics by 22.0% during the 1st quarter. Barclays PLC now owns 4,720 shares of the company’s stock worth $94,000 after buying an additional 850 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Aerovate Therapeutics by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,641 shares of the company’s stock worth $722,000 after buying an additional 885 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Aerovate Therapeutics by 13.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,070 shares of the company’s stock valued at $138,000 after buying an additional 986 shares during the period. Finally, UBS Group AG boosted its position in Aerovate Therapeutics by 9.2% in the 4th quarter. UBS Group AG now owns 12,241 shares of the company’s stock valued at $277,000 after buying an additional 1,027 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AVTE shares. Jefferies Financial Group initiated coverage on Aerovate Therapeutics in a report on Monday, March 25th. They issued 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 target on shares of Aerovate Therapeutics in a report on Monday.

Check Out Our Latest Stock Analysis on AVTE

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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