Short Interest in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Rises By 35.5%

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 2,520,000 shares, an increase of 35.5% from the December 31st total of 1,860,000 shares. Based on an average daily volume of 768,100 shares, the short-interest ratio is currently 3.3 days. Approximately 12.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Aerovate Therapeutics

Several large investors have recently made changes to their positions in AVTE. XTX Topco Ltd acquired a new position in shares of Aerovate Therapeutics during the 2nd quarter worth about $35,000. Barclays PLC boosted its holdings in shares of Aerovate Therapeutics by 310.8% during the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after buying an additional 14,354 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Aerovate Therapeutics in the 2nd quarter valued at about $53,000. FMR LLC boosted its holdings in shares of Aerovate Therapeutics by 54,095.4% during the third quarter. FMR LLC now owns 82,919 shares of the company’s stock worth $173,000 after acquiring an additional 82,766 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Aerovate Therapeutics in the fourth quarter valued at approximately $198,000.

Aerovate Therapeutics Stock Performance

NASDAQ:AVTE opened at $2.62 on Friday. Aerovate Therapeutics has a 52-week low of $1.25 and a 52-week high of $32.42. The company has a market cap of $75.65 million, a PE ratio of -0.88 and a beta of 1.00. The stock has a 50-day simple moving average of $2.59 and a 200 day simple moving average of $2.25.

Aerovate Therapeutics (NASDAQ:AVTE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.03. On average, research analysts predict that Aerovate Therapeutics will post -2.64 earnings per share for the current fiscal 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.