Blackstone Inc. Purchases Shares of 499,566 Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Blackstone Inc. purchased a new position in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 499,566 shares of the company’s stock, valued at approximately $1,324,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVTE. Ieq Capital LLC bought a new position in shares of Aerovate Therapeutics in the fourth quarter valued at $38,000. Barclays PLC lifted its stake in Aerovate Therapeutics by 310.8% in the third quarter. Barclays PLC now owns 18,972 shares of the company’s stock valued at $39,000 after acquiring an additional 14,354 shares during the last quarter. Russell Investments Group Ltd. grew its position 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 valued at $40,000 after acquiring an additional 7,977 shares during the period. Harvest Investment Services LLC acquired a new position in shares of Aerovate Therapeutics during the 4th quarter worth about $63,000. Finally, XTX Topco Ltd acquired a new position in shares of Aerovate Therapeutics during the 4th quarter worth about $63,000.

Aerovate Therapeutics Stock Performance

Shares of NASDAQ:AVTE opened at $12.48 on Tuesday. Aerovate Therapeutics, Inc. has a 52-week low of $43.75 and a 52-week high of $884.98. The company has a market capitalization of $361.73 million, a P/E ratio of -4.17 and a beta of 0.95. The company has a 50-day simple moving average of $81.37 and a 200 day simple moving average of $86.37.

Aerovate Therapeutics (NASDAQ:AVTE) last released its quarterly earnings data on Friday, April 25th. The company reported ($3.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($10.50) by $7.35. As a group, equities analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 earnings per share for the current year.

Aerovate Therapeutics Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 25th were given a dividend of $84.00 per share. The ex-dividend date of this dividend was Tuesday, April 29th.

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.