Affinity Asset Advisors LLC Raises Stock Holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Affinity Asset Advisors LLC lifted its position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 33.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 800,000 shares of the company's stock after purchasing an additional 200,000 shares during the period. Affinity Asset Advisors LLC owned about 2.77% of Aerovate Therapeutics worth $2,120,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. ADAR1 Capital Management LLC raised its holdings in shares of Aerovate Therapeutics by 720.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 928,016 shares of the company's stock valued at $2,459,000 after acquiring an additional 814,941 shares in the last quarter. Deltec Asset Management LLC purchased a new stake in Aerovate Therapeutics during the fourth quarter valued at $514,000. FMR LLC increased its position in shares of Aerovate Therapeutics by 54,095.4% during the 3rd quarter. FMR LLC now owns 82,919 shares of the company's stock valued at $173,000 after purchasing an additional 82,766 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Aerovate Therapeutics in the 4th quarter worth approximately $198,000. Finally, JPMorgan Chase & Co. lifted its position in Aerovate Therapeutics by 1,021.1% during the fourth quarter. JPMorgan Chase & Co. now owns 67,165 shares of the company's stock valued at $178,000 after purchasing an additional 61,174 shares in the last quarter.

Aerovate Therapeutics Stock Up 2.6 %

AVTE traded up $0.07 during midday trading on Friday, reaching $2.75. The company had a trading volume of 176,560 shares, compared to its average volume of 582,565. The business has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.51. The company has a market cap of $79.71 million, a P/E ratio of -0.92 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 1 year low of $1.25 and a 1 year high of $25.29.

Aerovate Therapeutics (NASDAQ:AVTE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported ($0.19) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.19). On average, equities research analysts predict 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.