Aerovate Therapeutics (NASDAQ:AVTE) Shares Down 3.3% – Here’s Why

Posted by Amy Steele on Jul 24th, 2026

Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report)’s stock price traded down 3.3% during trading on Thursday . The company traded as low as $19.58 and last traded at $19.85. Approximately 782,830 shares traded hands during mid-day trading, an increase of 1,361% from the average session volume of 53,591 shares. The stock had previously closed at $20.53.

Aerovate Therapeutics Stock Down 3.3%

The stock has a market cap of $575.35 million, a P/E ratio of -6.64 and a beta of 0.95. The firm’s 50-day moving average is $20.14 and its two-hundred day moving average is $17.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in shares of Aerovate Therapeutics by 67.3% in the 1st quarter. Rhumbline Advisers now owns 22,750 shares of the company’s stock valued at $57,000 after purchasing an additional 9,154 shares during the last quarter. Jane Street Group LLC acquired a new position in Aerovate Therapeutics during the first quarter worth $28,000. Goldman Sachs Group Inc. increased its position in Aerovate Therapeutics by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 352,669 shares of the company’s stock worth $885,000 after buying an additional 38,300 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Aerovate Therapeutics by 14.7% during the first quarter. AQR Capital Management LLC now owns 21,633 shares of the company’s stock valued at $54,000 after buying an additional 2,779 shares in the last quarter.

Aerovate Therapeutics Company Profile

(Get Free Report)

Aerovate Therapeutics is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for patients with debilitating pulmonary diseases. By leveraging a proprietary aerosol delivery platform, the company aims to deliver potent small-molecule anti-fibrotic and anti-inflammatory agents directly to the lungs, thereby maximizing local drug exposure while minimizing systemic side effects.

The company’s lead product candidate is an inhaled formulation of an established anti-fibrotic agent currently in early-phase clinical trials for the treatment of idiopathic pulmonary fibrosis (IPF).