Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes Sells 10,000 Shares of Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) CEO Timothy P. Noyes sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $24.70, for a total transaction of $247,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 NASDAQ AVTE opened at $21.60 on Friday. The company has a market capitalization of $601.78 million, a price-to-earnings ratio of -7.50 and a beta of 1.23. The business has a 50 day simple moving average of $24.43 and a 200-day simple moving average of $19.08. Aerovate Therapeutics, Inc. has a twelve month low of $9.41 and a twelve month high of $32.42.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVTE. Alps Advisors Inc. boosted its stake in Aerovate Therapeutics by 11.3% during the 3rd quarter. Alps Advisors Inc. now owns 20,395 shares of the company’s stock valued at $277,000 after purchasing an additional 2,075 shares during the period. Swiss National Bank increased its holdings in Aerovate Therapeutics by 30.9% during the 3rd quarter. Swiss National Bank now owns 21,201 shares of the company’s stock valued at $288,000 after purchasing an additional 5,000 shares in the last quarter. Silverarc Capital Management LLC bought a new position in Aerovate Therapeutics in the 3rd quarter valued at $1,357,000. Jane Street Group LLC bought a new position in shares of Aerovate Therapeutics in the 2nd quarter worth $183,000. Finally, State Street Corp boosted its position in shares of Aerovate Therapeutics by 6.3% in the 2nd quarter. State Street Corp now owns 178,554 shares of the company’s stock worth $2,791,000 after purchasing an additional 10,517 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVTE. Wells Fargo & Company restated an “overweight” rating and set a $35.00 price objective on shares of Aerovate Therapeutics in a research note on Monday, April 1st. Wedbush reiterated an “outperform” rating on shares of Aerovate Therapeutics in a research note on Thursday, April 4th. Finally, Jefferies Financial Group began coverage on shares of Aerovate Therapeutics in a research note on Monday, March 25th. They issued a “buy” rating and a $65.00 price target on the stock.

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.