Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Sells $247,000.00 in Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes sold 10,000 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $24.70, for a total value of $247,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Timothy P. Noyes also recently made the following trade(s):

• On Monday, April 1st, Timothy P. Noyes sold 10,000 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $30.00, for a total value of $300,000.00.

Aerovate Therapeutics Price Performance

AVTE stock traded down $0.90 during mid-day trading on Thursday, reaching $21.60. 216,299 shares of the company’s stock were exchanged, compared to its average volume of 129,731. The company has a market cap of $601.78 million, a price-to-earnings ratio of -7.61 and a beta of 1.23. The stock’s 50 day moving average is $24.41 and its 200 day moving average is $19.07. Aerovate Therapeutics, Inc. has a 12-month low of $9.41 and a 12-month high of $32.42.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Aerovate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AVTE. UBS Group AG purchased a new position in shares of Aerovate Therapeutics in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC lifted its position in shares of Aerovate Therapeutics by 136.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock valued at $55,000 after acquiring an additional 1,558 shares in the last quarter. Citigroup Inc. lifted its position in shares of Aerovate Therapeutics by 1,351.5% in the second quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock valued at $57,000 after acquiring an additional 3,095 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new position in shares of Aerovate Therapeutics in the third quarter valued at approximately $66,000. Finally, Wells Fargo & Company MN lifted its position in shares of Aerovate Therapeutics by 156.7% in 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 in 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.