Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Shares Bought by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC lifted its holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 720.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 928,016 shares of the company’s stock after purchasing an additional 814,941 shares during the period. ADAR1 Capital Management LLC owned about 3.21% of Aerovate Therapeutics worth $2,459,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ieq Capital LLC acquired a new stake in shares of Aerovate Therapeutics during the fourth quarter worth $38,000. Barclays PLC increased its stake in shares of Aerovate Therapeutics by 310.8% during the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after purchasing an additional 14,354 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Aerovate Therapeutics by 110.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company’s stock valued at $40,000 after acquiring an additional 7,977 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of Aerovate Therapeutics in the fourth quarter valued at approximately $98,000. Finally, Bank of Montreal Can raised its holdings in Aerovate Therapeutics by 86.8% in the 4th quarter. Bank of Montreal Can now owns 59,097 shares of the company’s stock worth $157,000 after acquiring an additional 27,453 shares during the period.

Aerovate Therapeutics Stock Down 0.8 %

Shares of AVTE stock opened at $2.49 on Monday. Aerovate Therapeutics, Inc. has a 12 month low of $1.25 and a 12 month high of $28.70. The stock has a 50 day moving average of $2.49 and a 200-day moving average of $2.46. The firm has a market cap of $72.17 million, a PE ratio of -0.83 and a beta of 0.95.

Aerovate Therapeutics (NASDAQ:AVTE) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). As a group, equities analysts predict that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

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.