Wedbush Research Analysts Boost Earnings Estimates for AVTE

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) – Wedbush lifted their FY2024 earnings estimates for Aerovate Therapeutics in a research report issued on Wednesday, November 13th. Wedbush analyst L. Chico now anticipates that the company will post earnings of ($2.85) per share for the year, up from their previous forecast of ($2.91). The consensus estimate for Aerovate Therapeutics’ current full-year earnings is ($2.74) per share. Wedbush also issued estimates for Aerovate Therapeutics’ FY2025 earnings at ($1.14) EPS.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.03.

Aerovate Therapeutics Trading Down 1.2 %

Shares of AVTE stock opened at $2.53 on Friday. Aerovate Therapeutics has a twelve month low of $1.25 and a twelve month high of $32.42. The company has a market capitalization of $73.05 million, a PE ratio of -0.85 and a beta of 1.00. The firm has a fifty day simple moving average of $2.21 and a 200-day simple moving average of $6.09.

Institutional Trading of Aerovate Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its holdings 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 buying an additional 14,354 shares during the last quarter. State Street Corp increased its holdings in shares of Aerovate Therapeutics by 7.7% in the 3rd 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 last quarter. FMR LLC raised its position in shares of Aerovate Therapeutics by 54,095.4% during the 3rd quarter. FMR LLC now owns 82,919 shares of the company’s stock valued at $173,000 after acquiring an additional 82,766 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Aerovate Therapeutics by 226.8% during the third quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock worth $865,000 after purchasing an additional 287,163 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Aerovate Therapeutics in the second quarter worth $53,000.

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.