Aerovate Therapeutics (NASDAQ:AVTE) Shares Up 3.8% – Still a Buy?
by Doug Wharley · The Cerbat GemAerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report) shares traded up 3.8% during mid-day trading on Thursday . The company traded as high as $23.46 and last traded at $23.21. Approximately 713,872 shares changed hands during trading, an increase of 1,232% from the average session volume of 53,591 shares. The stock had previously closed at $22.35.
Aerovate Therapeutics Price Performance
The stock’s 50 day moving average price is $19.95 and its two-hundred day moving average price is $18.67. The firm has a market capitalization of $672.74 million, a price-to-earnings ratio of -7.76 and a beta of 0.95.
Institutional Trading of Aerovate Therapeutics
Several hedge funds have recently modified their holdings of AVTE. Goldman Sachs Group Inc. increased its holdings in Aerovate Therapeutics by 12.2% in the first quarter. Goldman Sachs Group Inc. now owns 352,669 shares of the company’s stock valued at $885,000 after purchasing an additional 38,300 shares during the last quarter. Jane Street Group LLC bought a new stake in Aerovate Therapeutics during the 1st quarter worth about $28,000. Rhumbline Advisers boosted its holdings 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 buying an additional 9,154 shares during the last quarter. Finally, AQR Capital Management LLC grew 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 worth $54,000 after purchasing an additional 2,779 shares during the period.
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).