Aerovate Therapeutics (NASDAQ:AVTE) Rating Reiterated by Guggenheim

Aerovate Therapeutics (NASDAQ:AVTEGet Free Report)‘s stock had its “neutral” rating reaffirmed by investment analysts at Guggenheim in a research note issued to investors on Monday, Marketbeat reports.

Several other analysts also recently weighed in on AVTE. Wedbush downgraded shares of Aerovate Therapeutics from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $41.00 to $3.00 in a research report on Monday. BTIG Research cut Aerovate Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday. Jefferies Financial Group assumed coverage on shares of Aerovate Therapeutics in a research note on Monday, March 25th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Aerovate Therapeutics in a research note on Monday, April 1st. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.25.

Read Our Latest Research Report on AVTE

Aerovate Therapeutics Price Performance

AVTE stock opened at $1.41 on Monday. The firm has a market cap of $40.64 million, a price-to-earnings ratio of -0.46 and a beta of 1.30. Aerovate Therapeutics has a 1-year low of $1.40 and a 1-year high of $32.42. The firm has a fifty day moving average price of $20.57 and a two-hundred day moving average price of $21.29.

Aerovate Therapeutics (NASDAQ:AVTEGet Free Report) last issued its earnings results on Monday, May 13th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.09). As a group, analysts expect that Aerovate Therapeutics will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Aerovate Therapeutics news, insider Benjamin T. Dake sold 3,432 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $28.01, for a total value of $96,130.32. Following the transaction, the insider now owns 1,291 shares of the company’s stock, valued at $36,160.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Aerovate Therapeutics news, insider Benjamin T. Dake sold 11,068 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $27.97, for a total value of $309,571.96. Following the completion of the transaction, the insider now directly owns 1,291 shares in the company, valued at $36,109.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin T. Dake sold 3,432 shares of Aerovate Therapeutics stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $28.01, for a total transaction of $96,130.32. Following the completion of the transaction, the insider now directly owns 1,291 shares in the company, valued at $36,160.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,398 shares of company stock worth $2,696,369. Corporate insiders own 24.90% of the company’s stock.

Hedge Funds Weigh In On Aerovate Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVTE. Eventide Asset Management LLC purchased a new stake in shares of Aerovate Therapeutics in the fourth quarter valued at $276,000. Alps Advisors Inc. raised its position 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 lifted its stake in Aerovate Therapeutics by 30.9% in the 3rd quarter. Swiss National Bank now owns 21,201 shares of the company’s stock worth $288,000 after acquiring an additional 5,000 shares in the last quarter. Ikarian Capital LLC acquired a new stake in Aerovate Therapeutics during the 1st quarter worth about $10,881,000. Finally, Vestal Point Capital LP acquired a new stake in Aerovate Therapeutics during the 4th quarter worth about $9,052,000.

Aerovate Therapeutics Company Profile

(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.

Featured Stories

Analyst Recommendations for Aerovate Therapeutics (NASDAQ:AVTE)

Receive News & Ratings for Aerovate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerovate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.