Aerovate Therapeutics (NASDAQ:AVTE) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Aerovate Therapeutics (NASDAQ:AVTE) released its earnings results on Tuesday. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.03, Zacks reports.

Aerovate Therapeutics Stock Down 0.8 %

AVTE stock traded down $0.02 during trading on Thursday, hitting $2.61. The company had a trading volume of 103,306 shares, compared to its average volume of 617,010. The firm has a 50-day moving average price of $2.18 and a 200-day moving average price of $6.33. The stock has a market cap of $75.35 million, a price-to-earnings ratio of -0.88 and a beta of 1.00. Aerovate Therapeutics has a 12 month low of $1.25 and a 12 month high of $32.42.

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.