Aerovate Therapeutics (NASDAQ:AVTE) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Aerovate Therapeutics (NASDAQ:AVTE) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $65.00 price objective on the stock.

Separately, Wells Fargo & Company began coverage on Aerovate Therapeutics in a research report on Friday, December 8th. They set an equal weight rating and a $35.00 price target on the stock.

Aerovate Therapeutics Stock Up 3.8 %

Shares of NASDAQ AVTE opened at $29.57 on Monday. The business’s 50 day moving average price is $22.19 and its two-hundred day moving average price is $17.71. The company has a market cap of $823.82 million, a PE ratio of -10.27 and a beta of 1.18. Aerovate Therapeutics has a twelve month low of $9.41 and a twelve month high of $29.99.

Insider Activity

In related news, insider Benjamin T. Dake sold 3,432 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $28.01, for a total transaction of $96,130.32. Following the sale, the insider now owns 1,291 shares of the company’s stock, valued at $36,160.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Ralph Niven sold 4,600 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $19.16, for a total transaction of $88,136.00. Following the sale, the insider now owns 1,609 shares of the company’s stock, valued at $30,828.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin T. Dake sold 3,432 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $28.01, for a total value of $96,130.32. Following the sale, the insider now owns 1,291 shares of the company’s stock, valued at $36,160.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,563 shares of company stock valued at $1,010,853. 19.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aerovate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG bought a new stake in Aerovate Therapeutics during the third quarter worth $26,000. Tower Research Capital LLC TRC lifted its stake in Aerovate Therapeutics by 136.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock worth $55,000 after purchasing an additional 1,558 shares during the last quarter. Legal & General Group Plc lifted its stake in Aerovate Therapeutics by 318.0% during the fourth quarter. Legal & General Group Plc now owns 3,235 shares of the company’s stock worth $95,000 after purchasing an additional 2,461 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Aerovate Therapeutics by 1,351.5% in the 2nd quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock valued at $57,000 after acquiring an additional 3,095 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Aerovate Therapeutics by 148.2% in the 4th quarter. Royal Bank of Canada now owns 3,475 shares of the company’s stock valued at $79,000 after acquiring an additional 2,075 shares during the last quarter.

About Aerovate Therapeutics

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of 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.