ADAR1 Capital Management LLC Increases Stock Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

ADAR1 Capital Management LLC increased its stake in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 720.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 928,016 shares of the company's stock after purchasing an additional 814,941 shares during the period. ADAR1 Capital Management LLC owned 3.21% of Aerovate Therapeutics worth $2,459,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVTE. Ieq Capital LLC bought a new position in shares of Aerovate Therapeutics in the fourth quarter valued at approximately $38,000. Russell Investments Group Ltd. boosted its holdings in Aerovate Therapeutics by 110.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company's stock valued at $40,000 after purchasing an additional 7,977 shares during the period. Barclays PLC boosted its holdings in Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company's stock valued at $39,000 after purchasing an additional 14,354 shares during the period. Corient Private Wealth LLC purchased a new position in shares of Aerovate Therapeutics during the 4th quarter valued at $98,000. Finally, Bank of Montreal Can increased its holdings in shares of Aerovate Therapeutics by 86.8% in the fourth quarter. Bank of Montreal Can now owns 59,097 shares of the company's stock worth $157,000 after purchasing an additional 27,453 shares during the period.

Aerovate Therapeutics Stock Up 3.1 %

NASDAQ:AVTE traded up $0.08 during trading hours on Friday, hitting $2.66. 1,038,241 shares of the company's stock traded hands, compared to its average volume of 578,842. Aerovate Therapeutics, Inc. has a 52 week low of $1.25 and a 52 week high of $27.11. The business's fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $2.48. The firm has a market cap of $77.10 million, a P/E ratio of -0.89 and a beta of 0.95.

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Aerovate Therapeutics (NASDAQ:AVTE - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.19). On average, analysts expect that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current year.

Aerovate Therapeutics 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.