Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Benjamin T. Dake Sells 11,068 Shares

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 11,068 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $27.97, for a total transaction of $309,571.96. Following the sale, the insider now directly owns 1,291 shares in the company, valued at $36,109.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Aerovate Therapeutics Trading Up 3.8 %

Shares of AVTE stock opened at $29.57 on Friday. Aerovate Therapeutics, Inc. has a 1-year low of $9.41 and a 1-year high of $29.99. The firm’s 50-day simple moving average is $22.19 and its 200-day simple moving average is $17.71.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. TCG Crossover Management LLC lifted its holdings in shares of Aerovate Therapeutics by 103.6% during the 2nd quarter. TCG Crossover Management LLC now owns 2,201,274 shares of the company’s stock worth $37,752,000 after acquiring an additional 1,120,000 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Aerovate Therapeutics during the 2nd quarter worth about $20,479,000. Great Point Partners LLC lifted its holdings in shares of Aerovate Therapeutics by 23.4% during the 2nd quarter. Great Point Partners LLC now owns 932,158 shares of the company’s stock worth $15,987,000 after acquiring an additional 176,538 shares during the period. BlackRock Inc. lifted its holdings in shares of Aerovate Therapeutics by 2.3% during the 1st quarter. BlackRock Inc. now owns 746,934 shares of the company’s stock worth $13,691,000 after acquiring an additional 17,126 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Aerovate Therapeutics by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 626,831 shares of the company’s stock valued at $14,185,000 after buying an additional 27,729 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Aerovate Therapeutics in a research note on Monday. They set a “buy” rating and a $65.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Aerovate Therapeutics in a research note on Friday, December 8th. They set an “equal weight” rating and a $35.00 price target on the stock.

Aerovate Therapeutics Company Profile

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of 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.