Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Short Interest Update

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 4,020,000 shares, a growth of 6.9% from the January 15th total of 3,760,000 shares. Based on an average daily volume of 221,800 shares, the days-to-cover ratio is currently 18.1 days. Currently, 20.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Aerovate Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC purchased a new position in shares of Aerovate Therapeutics in the 4th quarter worth about $159,000. Braidwell LP bought a new stake in Aerovate Therapeutics in the 4th quarter worth approximately $3,817,000. Blackstone Inc. bought a new stake in Aerovate Therapeutics in the 4th quarter worth approximately $1,324,000. BNP Paribas Financial Markets purchased a new stake in Aerovate Therapeutics in the fourth quarter worth approximately $145,000. Finally, Allostery Investments LP bought a new position in Aerovate Therapeutics during the fourth quarter valued at approximately $2,254,000.

Aerovate Therapeutics Price Performance

Shares of NASDAQ:AVTE opened at $2.45 on Monday. Aerovate Therapeutics has a one year low of $1.25 and a one year high of $32.42. The firm has a market capitalization of $70.74 million, a price-to-earnings ratio of -0.82 and a beta of 0.99. The company’s fifty day moving average price is $2.57 and its 200-day moving average price is $2.30.

About Aerovate Therapeutics

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.