Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Sells $247,000.00 in Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $24.70, for a total transaction of $247,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Timothy P. Noyes also recently made the following trade(s):

• On Monday, April 1st, Timothy P. Noyes sold 10,000 shares of Aerovate Therapeutics stock. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00.

Aerovate Therapeutics Trading Down 4.0 %

Shares of Aerovate Therapeutics stock traded down $0.90 on Thursday, hitting $21.60. 216,299 shares of the company traded hands, compared to its average volume of 129,731. The stock’s 50 day moving average price is $24.41 and its 200-day moving average price is $19.07. Aerovate Therapeutics, Inc. has a 52 week low of $9.41 and a 52 week high of $32.42. The company has a market cap of $601.78 million, a PE ratio of -7.61 and a beta of 1.23.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wedbush reissued an “outperform” rating on shares of Aerovate Therapeutics in a research note on Thursday, April 4th. Jefferies Financial Group initiated coverage on shares of Aerovate Therapeutics in a research note on Monday, March 25th. They set a “buy” rating and a $65.00 price target for the company. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $35.00 price target on shares of Aerovate Therapeutics in a research note on Monday, April 1st.

Institutional Trading of Aerovate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings in Aerovate Therapeutics by 11.3% during the third quarter. Alps Advisors Inc. now owns 20,395 shares of the company’s stock valued at $277,000 after buying an additional 2,075 shares during the period. Swiss National Bank increased its holdings in Aerovate Therapeutics by 30.9% during the third quarter. Swiss National Bank now owns 21,201 shares of the company’s stock valued at $288,000 after buying an additional 5,000 shares during the period. Silverarc Capital Management LLC purchased a new position in Aerovate Therapeutics during the third quarter valued at approximately $1,357,000. Barclays PLC increased its holdings in Aerovate Therapeutics by 22.0% during the first quarter. Barclays PLC now owns 4,720 shares of the company’s stock valued at $94,000 after buying an additional 850 shares during the period. Finally, Royal Bank of Canada increased its holdings in Aerovate Therapeutics by 148.2% during the fourth quarter. Royal Bank of Canada now owns 3,475 shares of the company’s stock valued at $79,000 after buying an additional 2,075 shares during the period.

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.