Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Short Interest Up 35.5% in January

Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,520,000 shares, an increase of 35.5% from the December 31st total of 1,860,000 shares. Approximately 12.9% of the shares of the company are short sold. Based on an average daily trading volume, of 768,100 shares, the short-interest ratio is presently 3.3 days.

Aerovate Therapeutics Price Performance

Shares of NASDAQ AVTE opened at $2.58 on Thursday. The firm has a market capitalization of $74.51 million, a PE ratio of -0.86 and a beta of 1.00. Aerovate Therapeutics has a 1-year low of $1.25 and a 1-year high of $32.42. The business’s fifty day moving average price is $2.60 and its two-hundred day moving average price is $2.25.

Aerovate Therapeutics (NASDAQ:AVTEGet Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.03. Equities research analysts expect that Aerovate Therapeutics will post -2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aerovate Therapeutics

A number of institutional investors have recently bought and sold shares of AVTE. XTX Topco Ltd bought a new stake in shares of Aerovate Therapeutics in the 2nd quarter valued at approximately $35,000. Cubist Systematic Strategies LLC bought a new stake in Aerovate Therapeutics in the second quarter worth approximately $53,000. GSA Capital Partners LLP grew its position in Aerovate Therapeutics by 226.8% in the third quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock worth $865,000 after acquiring an additional 287,163 shares in the last quarter. FMR LLC increased its stake in shares of Aerovate Therapeutics by 54,095.4% during the 3rd quarter. FMR LLC now owns 82,919 shares of the company’s stock worth $173,000 after purchasing an additional 82,766 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Aerovate Therapeutics by 7.7% during the 3rd quarter. State Street Corp now owns 367,468 shares of the company’s stock valued at $768,000 after purchasing an additional 26,278 shares in the last quarter.

About Aerovate Therapeutics

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Aerovate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerovate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.