Aerovate Therapeutics (NASDAQ:AVTE) Sets New 12-Month High at $30.73

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) shares reached a new 52-week high on Monday . The company traded as high as $30.73 and last traded at $28.72, with a volume of 14079 shares traded. The stock had previously closed at $29.57.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVTE. Wells Fargo & Company restated an “overweight” rating and issued a $35.00 target price on shares of Aerovate Therapeutics in a report on Monday. Jefferies Financial Group started coverage on shares of Aerovate Therapeutics in a report on Monday, March 25th. They issued a “buy” rating and a $65.00 target price on the stock.

Aerovate Therapeutics Trading Down 3.8 %

The company’s fifty day moving average is $22.78 and its 200 day moving average is $18.11. The company has a market capitalization of $824.10 million, a P/E ratio of -10.27 and a beta of 1.23.

Insider Buying and Selling

In other Aerovate Therapeutics news, insider Hunter Gillies sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $19.50, for a total value of $78,000.00. Following the completion of the transaction, the insider now directly owns 3,251 shares of the company’s stock, valued at approximately $63,394.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Aerovate Therapeutics news, insider Hunter Gillies sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $19.50, for a total value of $78,000.00. Following the completion of the transaction, the insider now directly owns 3,251 shares of the company’s stock, valued at approximately $63,394.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ralph Niven sold 4,600 shares of Aerovate Therapeutics stock in a transaction on Monday, February 5th. The stock was sold at an average price of $17.45, for a total transaction of $80,270.00. Following the sale, the insider now directly owns 1,609 shares of the company’s stock, valued at $28,077.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,563 shares of company stock valued at $1,010,853. Company insiders own 19.30% of the company’s stock.

Institutional Trading of Aerovate Therapeutics

Several hedge funds have recently added to or reduced their stakes in AVTE. UBS Group AG bought a new stake in Aerovate Therapeutics in the third quarter worth $26,000. Tower Research Capital LLC TRC lifted its stake in Aerovate Therapeutics by 136.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock worth $55,000 after purchasing an additional 1,558 shares during the last quarter. Citigroup Inc. lifted its stake in Aerovate Therapeutics by 1,351.5% in the second quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock worth $57,000 after purchasing an additional 3,095 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new stake in Aerovate Therapeutics in the third quarter worth $66,000. Finally, Wells Fargo & Company MN raised its stake in shares of Aerovate Therapeutics by 156.7% during the second quarter. Wells Fargo & Company MN now owns 4,200 shares of the company’s stock valued at $72,000 after acquiring an additional 2,564 shares during the last quarter.

Aerovate Therapeutics Company Profile

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.