Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 665,000 shares, a decrease of 21.4% from the September 30th total of 846,500 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average daily volume of 240,000 shares, the short-interest ratio is currently 2.8 days.
Aerovate Therapeutics Price Performance
NASDAQ AVTE traded up $0.07 during trading hours on Tuesday, hitting $2.25. The company had a trading volume of 49,491 shares, compared to its average volume of 466,815. The firm’s 50 day moving average is $2.01 and its 200 day moving average is $7.92. Aerovate Therapeutics has a fifty-two week low of $1.25 and a fifty-two week high of $32.42. The company has a market capitalization of $64.85 million, a price-to-earnings ratio of -0.72 and a beta of 1.04.
Aerovate Therapeutics (NASDAQ:AVTE – Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.10). On average, equities analysts anticipate that Aerovate Therapeutics will post -2.74 EPS for the current year.
Institutional Inflows and Outflows
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.
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