Insider Selling: Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Sells $138,224.00 in Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Free Report) insider Marinus Verwijs sold 5,300 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $26.08, for a total value of $138,224.00. Following the sale, the insider now directly owns 1,291 shares of the company’s stock, valued at $33,669.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Aerovate Therapeutics Trading Down 0.8 %

Shares of NASDAQ:AVTE opened at $25.78 on Friday. Aerovate Therapeutics, Inc. has a 1 year low of $9.41 and a 1 year high of $27.82. The business has a fifty day simple moving average of $21.56 and a 200 day simple moving average of $17.34. The firm has a market cap of $713.33 million, a price-to-earnings ratio of -9.37 and a beta of 1.18.

Institutional Trading of Aerovate Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its holdings in shares of 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 in the last quarter. Swiss National Bank raised its holdings in 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 buying an additional 5,000 shares in the last quarter. Silverarc Capital Management LLC bought a new position in Aerovate Therapeutics during the third quarter valued at about $1,357,000. Driehaus Capital Management LLC bought a new position in Aerovate Therapeutics during the second quarter valued at about $20,479,000. Finally, HighVista Strategies LLC raised its holdings in Aerovate Therapeutics by 164.0% during the second quarter. HighVista Strategies LLC now owns 41,803 shares of the company’s stock valued at $717,000 after buying an additional 25,970 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company began coverage on Aerovate Therapeutics in a report on Friday, December 8th. They issued an “equal weight” rating and a $35.00 target price for the company.

Read Our Latest Research Report 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.

Further Reading

Insider Buying and Selling by Quarter for Aerovate Therapeutics (NASDAQ:AVTE)

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