Aerovate Therapeutics (NASDAQ:AVTE) Trading Down 3.9%

Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTEGet Free Report) were down 3.9% during mid-day trading on Wednesday . The company traded as low as $28.23 and last traded at $28.44. Approximately 5,463 shares were traded during trading, a decline of 96% from the average daily volume of 121,717 shares. The stock had previously closed at $29.58.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AVTE shares. Jefferies Financial Group started coverage on shares of Aerovate Therapeutics in a research note on Monday, March 25th. They issued a “buy” rating and a $65.00 price objective on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $35.00 price objective on shares of Aerovate Therapeutics in a research note on Monday.

Get Our Latest Analysis on Aerovate Therapeutics

Aerovate Therapeutics Price Performance

The company’s 50 day simple moving average is $22.78 and its two-hundred day simple moving average is $18.11.

Insider Transactions at Aerovate Therapeutics

In other news, insider Ralph Niven sold 4,600 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $19.16, for a total transaction of $88,136.00. Following the transaction, the insider now owns 1,609 shares in the company, valued at approximately $30,828.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Hunter Gillies sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $19.50, for a total transaction of $78,000.00. Following the completion of the sale, the insider now directly owns 3,251 shares of the company’s stock, valued at approximately $63,394.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ralph Niven sold 4,600 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $19.16, for a total transaction of $88,136.00. Following the sale, the insider now directly owns 1,609 shares of the company’s stock, valued at $30,828.44. The disclosure for this sale can be found here. Insiders have sold a total of 42,563 shares of company stock worth $1,010,853 in the last 90 days. 19.30% of the stock is owned by insiders.

Institutional Trading of Aerovate Therapeutics

Several large investors have recently modified their holdings of AVTE. Alps Advisors Inc. boosted its holdings in Aerovate Therapeutics by 11.3% in 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 period. Swiss National Bank grew 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 purchasing an additional 5,000 shares during the period. Silverarc Capital Management LLC acquired a new position in Aerovate Therapeutics during the third quarter valued at approximately $1,357,000. HighVista Strategies LLC boosted its holdings in shares of 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 during the period. Finally, TCG Crossover Management LLC boosted its holdings in shares of Aerovate Therapeutics by 103.6% in the second quarter. TCG Crossover Management LLC now owns 2,201,274 shares of the company’s stock valued at $37,752,000 after buying an additional 1,120,000 shares during the period.

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.

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