Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report)’s share price fell 5.3% on Tuesday . The stock traded as low as $22.1650 and last traded at $22.21. 372,118 shares were traded during mid-day trading, an increase of 594% from the average session volume of 53,591 shares. The stock had previously closed at $23.46.
Aerovate Therapeutics Trading Down 5.3%
The company has a market cap of $643.76 million, a PE ratio of -7.43 and a beta of 0.95. The firm has a 50 day moving average of $19.92 and a two-hundred day moving average of $16.10.
Institutional Trading of Aerovate Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in AVTE. AQR Capital Management LLC grew its stake in shares of Aerovate Therapeutics by 14.7% in the 1st quarter. AQR Capital Management LLC now owns 21,633 shares of the company’s stock worth $54,000 after buying an additional 2,779 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Aerovate Therapeutics by 12.2% in the 1st 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. Jane Street Group LLC purchased a new stake in shares of Aerovate Therapeutics in the 1st quarter worth approximately $28,000. Finally, Rhumbline Advisers grew 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 worth $57,000 after buying an additional 9,154 shares during the last quarter.
Aerovate Therapeutics Company Profile
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).
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