Insider Selling: Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Sells 6,853 Shares of Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 6,853 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $22.37, for a total value of $153,301.61. Following the transaction, the insider now directly owns 1,291 shares in the company, valued at approximately $28,879.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Aerovate Therapeutics Stock Up 2.1 %

Shares of Aerovate Therapeutics stock traded up $0.45 during trading on Friday, reaching $22.05. The company’s stock had a trading volume of 218,786 shares, compared to its average volume of 130,901. Aerovate Therapeutics, Inc. has a 12-month low of $9.41 and a 12-month high of $32.42. The business has a 50 day moving average price of $24.43 and a 200-day moving average price of $19.08.

Analysts Set New Price Targets

AVTE has been the topic of several analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $35.00 target price 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 initiated coverage on Aerovate Therapeutics in a research note on Monday, March 25th. They issued a “buy” rating and a $65.00 target price on the stock.

Institutional Trading of Aerovate Therapeutics

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Aerovate Therapeutics by 2.3% during the first quarter. BlackRock Inc. now owns 746,934 shares of the company’s stock worth $13,691,000 after purchasing an additional 17,126 shares in the last quarter. Vanguard Group Inc. boosted its position in Aerovate Therapeutics by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 626,831 shares of the company’s stock worth $14,185,000 after purchasing an additional 27,729 shares in the last quarter. FMR LLC boosted its position in Aerovate Therapeutics by 24.9% during the first quarter. FMR LLC now owns 570,965 shares of the company’s stock worth $11,516,000 after purchasing an additional 113,778 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Aerovate Therapeutics during the fourth quarter worth $9,991,000. Finally, Vestal Point Capital LP purchased a new stake in Aerovate Therapeutics during the fourth quarter worth $9,052,000.

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.