Charles Schwab Investment Management Inc. Sells 22,737 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Charles Schwab Investment Management Inc. lowered its stake in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 43.7% in the third quarter, Holdings Channel reports. The institutional investor owned 29,351 shares of the company’s stock after selling 22,737 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Aerovate Therapeutics were worth $61,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Aerovate Therapeutics in the 2nd quarter worth $35,000. Cubist Systematic Strategies LLC purchased a new position in Aerovate Therapeutics in the second quarter valued at about $53,000. Quest Partners LLC raised its holdings in Aerovate Therapeutics by 610.2% in 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $78,000 after buying an additional 19,324 shares during the last quarter. Finally, Warberg Asset Management LLC bought a new stake in shares of Aerovate Therapeutics in the 2nd quarter valued at about $111,000.

Aerovate Therapeutics Price Performance

Shares of Aerovate Therapeutics stock opened at $2.53 on Friday. The company has a market cap of $73.05 million, a P/E ratio of -0.85 and a beta of 1.01. The firm’s 50 day moving average price is $2.52 and its 200-day moving average price is $3.29. Aerovate Therapeutics, Inc. has a 52-week low of $1.25 and a 52-week high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.03. As a group, equities research analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 EPS 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.