Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report) have been given an average rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2.25.
Several research firms have issued reports on AVTE. Guggenheim reissued a “neutral” rating on shares of Aerovate Therapeutics in a research report on Monday, June 17th. Evercore ISI lowered shares of Aerovate Therapeutics from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $27.00 to $2.00 in a research note on Tuesday, June 18th. TD Cowen lowered shares of Aerovate Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Wells Fargo & Company lowered shares of Aerovate Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $35.00 to $2.00 in a research note on Tuesday, June 18th. Finally, Wedbush lowered shares of Aerovate Therapeutics from an “outperform” rating to a “neutral” rating and cut their price target for the company from $41.00 to $3.00 in a research note on Monday, June 17th.
Read Our Latest Stock Analysis on Aerovate Therapeutics
Insider Buying and Selling
Institutional Investors Weigh In On Aerovate Therapeutics
A number of hedge funds have recently modified their holdings of the business. Eventide Asset Management LLC acquired a new stake in Aerovate Therapeutics during the fourth quarter worth about $276,000. Values First Advisors Inc. acquired a new stake in Aerovate Therapeutics during the second quarter worth about $26,000. Bank of New York Mellon Corp increased its position in Aerovate Therapeutics by 69.9% during the second quarter. Bank of New York Mellon Corp now owns 46,988 shares of the company’s stock worth $78,000 after purchasing an additional 19,324 shares during the last quarter. Quest Partners LLC increased its position in Aerovate Therapeutics by 610.2% during the second quarter. Quest Partners LLC now owns 32,856 shares of the company’s stock worth $55,000 after purchasing an additional 28,230 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Aerovate Therapeutics by 7.2% during the first quarter. Vanguard Group Inc. now owns 672,275 shares of the company’s stock worth $19,879,000 after purchasing an additional 45,444 shares during the last quarter.
Aerovate Therapeutics Trading Down 0.6 %
AVTE stock opened at $1.69 on Wednesday. Aerovate Therapeutics has a 12 month low of $1.25 and a 12 month high of $32.42. The company has a 50-day moving average price of $5.56 and a 200 day moving average price of $16.37. The stock has a market cap of $48.71 million, a PE ratio of -0.56 and a beta of 1.02.
Aerovate Therapeutics (NASDAQ:AVTE – Get Free Report) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.09). Sell-side analysts forecast that Aerovate Therapeutics will post -2.79 EPS for the current 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.
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