Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Hunter Gillies Sells 4,000 Shares of Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Hunter Gillies sold 4,000 shares of Aerovate Therapeutics stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $21.08, for a total transaction of $84,320.00. Following the sale, the insider now directly owns 5,602 shares in the company, valued at approximately $118,090.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hunter Gillies also recently made the following trade(s):

• On Friday, February 23rd, Hunter Gillies sold 511 shares of Aerovate Therapeutics stock. The stock was sold at an average price of $19.50, for a total value of $9,964.50.
• On Tuesday, February 20th, Hunter Gillies sold 3,489 shares of Aerovate Therapeutics stock. The shares were sold at an average price of $20.23, for a total transaction of $70,582.47.

Aerovate Therapeutics Trading Down 6.1 %

Shares of NASDAQ AVTE traded down $1.34 during midday trading on Friday, hitting $20.57. The company’s stock had a trading volume of 136,803 shares, compared to its average volume of 157,390. The business’s fifty day simple moving average is $24.14 and its two-hundred day simple moving average is $20.44. Aerovate Therapeutics, Inc. has a 1 year low of $9.41 and a 1 year high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last released its earnings results on Monday, March 25th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.06). Equities research analysts anticipate that Aerovate Therapeutics, Inc. will post -2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AVTE shares. Jefferies Financial Group started coverage on shares of Aerovate Therapeutics in a report on Monday, March 25th. They issued a “buy” rating and a $65.00 price objective on the stock. Wells Fargo & Company restated an “overweight” rating and set a $35.00 price target on shares of Aerovate Therapeutics in a research note on Monday, April 1st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Aerovate Therapeutics in a research note on Tuesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in shares of 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 buying an additional 5,000 shares during the period. Silverarc Capital Management LLC purchased a new position in shares of Aerovate Therapeutics in the 3rd quarter valued at about $1,357,000. Alps Advisors Inc. raised its holdings in 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 purchasing an additional 2,075 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Aerovate Therapeutics during the 4th quarter worth $9,052,000. Finally, Eventide Asset Management LLC acquired a new stake in shares of Aerovate Therapeutics during the fourth quarter worth about $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.