Aerovate Therapeutics (NASDAQ:AVTE) Stock Price Up 9.4%

Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Rating) shares rose 9.4% during mid-day trading on Thursday . The company traded as high as $25.94 and last traded at $25.89. Approximately 1,203 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 157,631 shares. The stock had previously closed at $23.67.

Aerovate Therapeutics Stock Up 0.1 %

The stock has a fifty day moving average of $15.73 and a 200-day moving average of $13.59.

Aerovate Therapeutics (NASDAQ:AVTE – Get Rating) last released its quarterly earnings data on Monday, May 16th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.19). Equities analysts anticipate that Aerovate Therapeutics, Inc. will post -1.82 EPS for the current fiscal year.

Institutional Trading of Aerovate Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. boosted its stake in Aerovate Therapeutics by 21.3% in the 1st quarter. American International Group Inc. now owns 6,494 shares of the company’s stock worth $119,000 after buying an additional 1,140 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Aerovate Therapeutics in the 1st quarter worth about $27,000. Russell Investments Group Ltd. purchased a new position in shares of Aerovate Therapeutics in the 2nd quarter worth about $32,000. New York State Common Retirement Fund raised its holdings in shares of Aerovate Therapeutics by 165.0% in the 4th quarter. New York State Common Retirement Fund now owns 4,770 shares of the company’s stock worth $56,000 after purchasing an additional 2,970 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Aerovate Therapeutics by 49.8% in the 1st quarter. JPMorgan Chase & Co. now owns 9,007 shares of the company’s stock worth $165,000 after purchasing an additional 2,995 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

About Aerovate Therapeutics

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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. The company 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.