Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Short Interest Update

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 4,020,000 shares, an increase of 6.9% from the January 15th total of 3,760,000 shares. Based on an average daily trading volume, of 221,800 shares, the short-interest ratio is presently 18.1 days. Approximately 20.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AVTE. Ieq Capital LLC acquired a new stake in shares of Aerovate Therapeutics in the 4th quarter worth $38,000. Russell Investments Group Ltd. lifted its stake in shares of Aerovate Therapeutics by 110.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company’s stock worth $40,000 after acquiring an additional 7,977 shares during the period. Barclays PLC lifted its stake in shares of Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after acquiring an additional 14,354 shares during the period. XTX Topco Ltd acquired a new stake in shares of Aerovate Therapeutics in the 4th quarter worth $63,000. Finally, Harvest Investment Services LLC acquired a new stake in shares of Aerovate Therapeutics in the 4th quarter worth $63,000.

Aerovate Therapeutics Trading Down 0.4 %

AVTE traded down $0.01 during trading on Friday, hitting $2.45. 114,174 shares of the stock were exchanged, compared to its average volume of 235,365. Aerovate Therapeutics has a 1-year low of $1.25 and a 1-year high of $32.42. The stock has a fifty day moving average price of $2.57 and a two-hundred day moving average price of $2.30.

Aerovate Therapeutics Company Profile

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.