Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Insider Benjamin T. Dake Sells 3,432 Shares of Stock

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) insider Benjamin T. Dake sold 3,432 shares of the 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 directly owns 1,291 shares in the company, valued at $36,160.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Aerovate Therapeutics Trading Up 11.1 %

Shares of AVTE stock opened at $28.50 on Thursday. Aerovate Therapeutics, Inc. has a fifty-two week low of $9.41 and a fifty-two week high of $29.36. The stock has a 50 day simple moving average of $21.99 and a two-hundred day simple moving average of $17.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TCG Crossover Management LLC increased its position in Aerovate Therapeutics by 103.6% in the 2nd quarter. TCG Crossover Management LLC now owns 2,201,274 shares of the company’s stock valued at $37,752,000 after buying an additional 1,120,000 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Aerovate Therapeutics during the second quarter worth approximately $20,479,000. Great Point Partners LLC raised its holdings in Aerovate Therapeutics by 23.4% during the second quarter. Great Point Partners LLC now owns 932,158 shares of the company’s stock worth $15,987,000 after buying an additional 176,538 shares during the last quarter. BlackRock Inc. lifted its position in Aerovate Therapeutics by 2.3% in the 1st quarter. BlackRock Inc. now owns 746,934 shares of the company’s stock valued at $13,691,000 after acquiring an additional 17,126 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Aerovate Therapeutics by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 626,831 shares of the company’s stock valued at $14,185,000 after purchasing an additional 27,729 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVTE shares. Jefferies Financial Group started coverage on Aerovate Therapeutics in a research note on Monday. They issued a “buy” rating and a $65.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Aerovate Therapeutics in a report on Friday, December 8th. They set an “equal weight” rating and a $35.00 price target on the stock.

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.