Aerovate Therapeutics (NASDAQ:AVTE) Announces Earnings Results, Beats Estimates By $0.03 EPS

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

Aerovate Therapeutics Stock Performance

Shares of Aerovate Therapeutics stock traded down $0.02 during trading on Thursday, reaching $2.61. 83,092 shares of the company’s stock were exchanged, compared to its average volume of 616,919. Aerovate Therapeutics has a 1-year low of $1.25 and a 1-year high of $32.42. The firm’s 50-day moving average price is $2.18 and its 200 day moving average price is $6.33. The company has a market cap of $75.35 million, a P/E ratio of -0.88 and a beta of 1.00.

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.