Squarepoint Ops LLC Invests $52,000 in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Squarepoint Ops LLC acquired a new position in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,564 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVTE. Braidwell LP purchased a new position in shares of Aerovate Therapeutics in the fourth quarter worth $3,817,000. Allostery Investments LP purchased a new position in shares of Aerovate Therapeutics in the fourth quarter worth $2,254,000. ADAR1 Capital Management LLC raised its holdings in shares of Aerovate Therapeutics by 720.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 928,016 shares of the company’s stock worth $2,459,000 after buying an additional 814,941 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Aerovate Therapeutics in the fourth quarter worth $1,590,000. Finally, Blackstone Inc. purchased a new position in shares of Aerovate Therapeutics in the fourth quarter worth $1,324,000.

Aerovate Therapeutics Trading Up 7.2%

NASDAQ AVTE opened at $7.71 on Wednesday. The stock has a market cap of $223.47 million, a P/E ratio of -2.58 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 12-month low of $43.75 and a 12-month high of $884.98. The company has a fifty day simple moving average of $40.11 and a two-hundred day simple moving average of $71.98.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings results on Friday, April 25th. The company reported ($3.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($10.50) by $7.35. As a group, sell-side analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 earnings per share for the current year.

Aerovate Therapeutics Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 25th were given a $84.00 dividend. The ex-dividend date was Tuesday, April 29th.

Aerovate Therapeutics 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.