Marinus Verwijs Sells 1,981 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Marinus Verwijs sold 1,981 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $21.02, for a total transaction of $41,640.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Marinus Verwijs also recently made the following trade(s):

• On Tuesday, March 19th, Marinus Verwijs sold 5,300 shares of Aerovate Therapeutics stock. The stock was sold at an average price of $26.08, for a total transaction of $138,224.00.

Aerovate Therapeutics Stock Down 2.2 %

Shares of NASDAQ AVTE opened at $20.29 on Monday. The firm’s 50-day moving average price is $24.72 and its two-hundred day moving average price is $19.88. Aerovate Therapeutics, Inc. has a 52-week low of $9.41 and a 52-week high of $32.42. The stock has a market capitalization of $583.13 million, a P/E ratio of -7.05 and a beta of 1.40.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings results on Monday, March 25th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.06). As a group, equities research analysts expect that Aerovate Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wedbush reissued an “outperform” rating on shares of Aerovate Therapeutics in a report on Thursday, April 4th. Jefferies Financial Group started coverage on Aerovate Therapeutics in a research report on Monday, March 25th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Aerovate Therapeutics in a report on Monday, April 1st.

Institutional Investors Weigh In On Aerovate Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in Aerovate Therapeutics by 30.9% in the 3rd 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 last quarter. Silverarc Capital Management LLC acquired a new stake in shares of Aerovate Therapeutics in the third quarter valued at approximately $1,357,000. Alps Advisors Inc. boosted its position in shares of Aerovate Therapeutics by 11.3% during the third quarter. Alps Advisors Inc. now owns 20,395 shares of the company’s stock worth $277,000 after buying an additional 2,075 shares during the period. Vestal Point Capital LP bought a new position in Aerovate Therapeutics in the 4th quarter worth approximately $9,052,000. Finally, Eventide Asset Management LLC acquired a new stake in Aerovate Therapeutics in the 4th quarter valued at approximately $276,000.

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.