Fmr LLC Purchases 82,766 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Fmr LLC lifted its position in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 54,095.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,919 shares of the company’s stock after buying an additional 82,766 shares during the quarter. Fmr LLC’s holdings in Aerovate Therapeutics were worth $173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Aerovate Therapeutics in the second quarter worth about $35,000. Cubist Systematic Strategies LLC bought a new stake in shares of Aerovate Therapeutics in the 2nd quarter valued at about $53,000. Quest Partners LLC raised its holdings in shares of Aerovate Therapeutics by 610.2% in the 2nd quarter. Quest Partners LLC now owns 32,856 shares of the company’s stock valued at $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% in the 2nd 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 period. Finally, Warberg Asset Management LLC bought a new position in shares of Aerovate Therapeutics during the second quarter valued at approximately $111,000.

Aerovate Therapeutics Price Performance

Shares of NASDAQ:AVTE opened at $2.53 on Friday. The firm has a 50 day moving average of $2.52 and a 200 day moving average of $3.29. The company has a market capitalization of $73.05 million, a price-to-earnings ratio of -0.85 and a beta of 1.01. Aerovate Therapeutics, Inc. has a 52 week low of $1.25 and a 52 week high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.03. On average, sell-side analysts expect that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current year.

Aerovate Therapeutics 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.