Aerovate Therapeutics Inc (NASDAQ: AVTE) is -2.64% lower on its value in year-to-date trading and has touched a low of $1.25 and a high of $32.42 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AVTE stock was last observed hovering at around $2.43 in the last trading session, with the day’s gains setting it 0.15%.
Currently trading at $2.58, the stock is -0.26% and -1.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.25 million and changing 6.17% at the moment leaves the stock -64.10% off its SMA200. AVTE registered -87.21% loss for a year compared to 6-month gain of 41.76%. The firm has a 50-day simple moving average (SMA 50) of $2.6123 and a 200-day simple moving average (SMA200) of $7.187075.
The stock witnessed a 0.78% loss in the last 1 month and extending the period to 3 months gives it a 9.32%, and is 1.18% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.78% over the week and 3.76% over the month.
Aerovate Therapeutics Inc (AVTE) has around 51 employees, a market worth around $74.50M and $0.00M in sales. Distance from 52-week low is 106.40% and -92.04% from its 52-week high. The company has generated returns on investments over the last 12 months (-105.01%).
The EPS is expected to grow by 8.36% this year, but quarterly earnings will post 0.00% year-over-year. Quarterly sales are estimated to shrink 0.00% in year-over-year returns.
Aerovate Therapeutics Inc (AVTE) Top Institutional Holders
106.0 institutions hold shares in Aerovate Therapeutics Inc (AVTE), with institutional investors hold 102.40% of the company’s shares. The shares outstanding are 28.87M, and float is at 19.59M with Short Float at 12.88%. Institutions hold 102.38% of the Float.
The top institutional shareholder in the company is RA CAPITAL MANAGEMENT, L.P. with over 9.19 million shares valued at $15.26 million. The investor’s holdings represent 33.07% of the AVTE Shares outstanding. As of 2024-06-30, the second largest holder is SOFINNOVA INVESTMENTS, INC. with 3.76 million shares valued at $6.24 million to account for 13.5225 of the shares outstanding. The other top investors are TCG CROSSOVER MANAGEMENT, LLC which holds 2.24 million shares representing 8.0617% and valued at over $3.72 million, while ATLAS VENTURE LIFE SCIENCE ADVISORS, LLC holds 6.473 of the shares totaling 1.8 million with a market value of $2.99 million.
Aerovate Therapeutics Inc (AVTE) Insider Activity
The most recent transaction is an insider purchase by RA CAPITAL MANAGEMENT, L.P., the company’s Director. SEC filings show that RA CAPITAL MANAGEMENT, L.P. bought 928,110 shares of the company’s common stock on Jun 17 ’24 at a price of $1.67 per share for a total of $1.55 million. Following the purchase, the insider now owns 7.89 million shares.
Aerovate Therapeutics Inc disclosed in a document filed with the SEC on Jun 14 ’24 that Eldridge George A sold a total of 15,000 shares of the company’s common stock. The trade occurred on Jun 14 ’24 and was made at $25.03 per share for $0.38 million. Following the transaction, the insider now directly holds 5022.0 shares of the AVTE stock.
Still, SEC filings show that on Jun 14 ’24, Verwijs Marinus (CHIEF TECHNICAL OFFICER) disposed off 10,600 shares at an average price of $25.00 for $0.27 million. The insider now directly holds 0 shares of Aerovate Therapeutics Inc (AVTE).
