ADAR1 Capital Management LLC Has $2.46 Million Stock Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

ADAR1 Capital Management LLC raised its stake in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 720.7% in the 4th quarter, HoldingsChannel reports. The fund owned 928,016 shares of the company’s stock after buying an additional 814,941 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Aerovate Therapeutics were worth $2,459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AVTE. State Street Corp lifted its stake in shares of Aerovate Therapeutics by 7.7% during the third quarter. State Street Corp now owns 367,468 shares of the company’s stock valued at $768,000 after acquiring an additional 26,278 shares during the period. Deltec Asset Management LLC acquired a new position in Aerovate Therapeutics during the 4th quarter valued at about $514,000. FMR LLC boosted its stake in shares of Aerovate Therapeutics by 54,095.4% in the 3rd quarter. FMR LLC now owns 82,919 shares of the company’s stock valued at $173,000 after purchasing an additional 82,766 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Aerovate Therapeutics during the 4th quarter worth approximately $198,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Aerovate Therapeutics by 1,021.1% during the fourth quarter. JPMorgan Chase & Co. now owns 67,165 shares of the company’s stock worth $178,000 after buying an additional 61,174 shares during the last quarter.

Aerovate Therapeutics Stock Performance

Shares of AVTE stock opened at $2.49 on Monday. The firm’s 50 day moving average price is $2.49 and its two-hundred day moving average price is $2.46. Aerovate Therapeutics, Inc. has a 52-week low of $1.25 and a 52-week high of $28.70. The stock 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) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). As a group, sell-side analysts predict that Aerovate Therapeutics, Inc. will post -2.64 earnings per share for the current fiscal year.

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.