Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Sells 3,432 Shares

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 3,432 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $28.01, for a total value of $96,130.32. Following the completion of the transaction, the insider now directly owns 1,291 shares in the company, valued at $36,160.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Aerovate Therapeutics Trading Up 11.1 %

Shares of AVTE stock opened at $28.50 on Thursday. The stock has a 50 day moving average of $21.99 and a two-hundred day moving average of $17.62. Aerovate Therapeutics, Inc. has a 12 month low of $9.41 and a 12 month high of $29.36.

Institutional Trading of Aerovate Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVTE. Alps Advisors Inc. lifted its holdings in Aerovate Therapeutics by 11.3% during the 3rd quarter. Alps Advisors Inc. now owns 20,395 shares of the company’s stock valued at $277,000 after purchasing an additional 2,075 shares during the last quarter. Swiss National Bank raised its position in shares of Aerovate Therapeutics by 30.9% in the 3rd quarter. Swiss National Bank now owns 21,201 shares of the company’s stock valued at $288,000 after acquiring an additional 5,000 shares during the period. Silverarc Capital Management LLC bought a new stake in shares of Aerovate Therapeutics in the 3rd quarter valued at $1,357,000. Driehaus Capital Management LLC bought a new position in shares of Aerovate Therapeutics during the 2nd quarter valued at about $20,479,000. Finally, HighVista Strategies LLC lifted its stake in Aerovate Therapeutics by 164.0% in 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVTE. Wells Fargo & Company began coverage on shares of Aerovate Therapeutics in a research report on Friday, December 8th. They set an “equal weight” rating and a $35.00 target price for the company. Jefferies Financial Group started coverage on Aerovate Therapeutics in a research report on Monday. They issued a “buy” rating and a $65.00 price target on the stock.

About Aerovate Therapeutics

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.