Aerovate Therapeutics Target of Unusually Large Options Trading (NASDAQ:AVTE)

Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 3,010 call options on the stock. This is an increase of approximately 338% compared to the average volume of 687 call options.

Aerovate Therapeutics Trading Up 6.2 %

AVTE stock traded up $0.15 during trading on Friday, reaching $2.58. The stock had a trading volume of 249,881 shares, compared to its average volume of 298,416. The firm has a fifty day moving average price of $2.61 and a 200 day moving average price of $2.19. The company has a market capitalization of $74.51 million, a P/E ratio of -0.86 and a beta of 1.00. Aerovate Therapeutics has a 1-year low of $1.25 and a 1-year high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.03. Sell-side analysts predict that Aerovate Therapeutics will post -2.64 EPS for the current year.

Hedge Funds Weigh In On Aerovate Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in Aerovate Therapeutics in the second quarter valued at $35,000. Barclays PLC increased its position in shares of Aerovate Therapeutics by 310.8% in 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 during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Aerovate Therapeutics in the 2nd quarter valued at about $53,000. Quest Partners LLC lifted its position in shares of Aerovate Therapeutics by 610.2% during the second quarter. Quest Partners LLC now owns 32,856 shares of the company's stock worth $55,000 after purchasing an additional 28,230 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Aerovate Therapeutics by 69.9% in the second quarter. Bank of New York Mellon Corp now owns 46,988 shares of the company's stock worth $78,000 after purchasing an additional 19,324 shares in the last quarter.

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.