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

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) was the target of a large growth in short interest during the month of 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 trading volume of 221,800 shares, the days-to-cover ratio is currently 18.1 days. Approximately 20.5% of the company’s shares are short sold.

Aerovate Therapeutics Stock Down 0.4 %

Shares of AVTE traded down $0.01 during midday trading on Friday, reaching $2.45. The company had a trading volume of 114,174 shares, compared to its average volume of 235,365. Aerovate Therapeutics has a 1-year low of $1.25 and a 1-year high of $32.42. The firm has a 50 day simple moving average of $2.57 and a 200-day simple moving average of $2.30.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Deltec Asset Management LLC purchased a new position in Aerovate Therapeutics in the fourth quarter worth approximately $514,000. GSA Capital Partners LLP lifted its holdings in shares of Aerovate Therapeutics by 226.8% in the 3rd 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 during the last quarter. Barclays PLC lifted its holdings in shares of Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after acquiring an additional 14,354 shares during the last quarter. State Street Corp lifted its holdings in shares of Aerovate Therapeutics by 7.7% in the 3rd quarter. State Street Corp now owns 367,468 shares of the company’s stock worth $768,000 after acquiring an additional 26,278 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Aerovate Therapeutics by 54,095.4% in the 3rd quarter. FMR LLC now owns 82,919 shares of the company’s stock worth $173,000 after acquiring an additional 82,766 shares during the last quarter.

Aerovate Therapeutics Company Profile

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.