Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 4,020,000 shares, a growth of 6.9% from the January 15th total of 3,760,000 shares. Approximately 20.5% of the shares of the stock are short sold. Based on an average trading volume of 221,800 shares, the days-to-cover ratio is presently 18.1 days.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. GTS Securities LLC acquired a new stake in Aerovate Therapeutics in the fourth quarter valued at $27,000. Ieq Capital LLC bought a new stake in Aerovate Therapeutics during the fourth quarter worth $38,000. Russell Investments Group Ltd. grew its holdings in shares of Aerovate Therapeutics by 110.7% during 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 last quarter. Barclays PLC increased its position in Aerovate Therapeutics by 310.8% during the 3rd quarter. Barclays PLC now owns 18,972 shares of the company's stock worth $39,000 after purchasing an additional 14,354 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Aerovate Therapeutics in the fourth quarter valued at approximately $52,000.
Aerovate Therapeutics Trading Down 0.8 %
Shares of Aerovate Therapeutics stock traded down $0.02 during trading on Thursday, reaching $2.39. The company's stock had a trading volume of 47,224 shares, compared to its average volume of 197,801. Aerovate Therapeutics has a one year low of $1.25 and a one year high of $32.42. The stock has a market capitalization of $69.02 million, a P/E ratio of -0.80 and a beta of 0.99. The stock has a 50-day moving average price of $2.56 and a two-hundred day moving average price of $2.31.
About Aerovate Therapeutics
(
Get Free Report)
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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