Aerovate Therapeutics (NASDAQ:AVTE) Announces Earnings Results, Hits Expectations

Aerovate Therapeutics (NASDAQ:AVTE) issued its earnings results on Thursday. The company reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19), Zacks reports.

Aerovate Therapeutics Stock Performance

Shares of NASDAQ AVTE opened at $2.53 on Friday. The business has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $2.43. Aerovate Therapeutics has a 52 week low of $1.25 and a 52 week high of $32.42. The stock has a market cap of $73.05 million, a price-to-earnings ratio of -0.85 and a beta of 1.01.

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.