Aerovate Therapeutics (NASDAQ:AVTE) Issues Quarterly Earnings Results, Meets Expectations

Aerovate Therapeutics (NASDAQ:AVTE) released its earnings results on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19), Zacks reports.

Aerovate Therapeutics Price Performance

Shares of AVTE stock traded down $0.01 during trading hours on Friday, reaching $2.52. 2,093 shares of the stock were exchanged, compared to its average volume of 572,416. The business’s fifty day moving average is $2.50 and its two-hundred day moving average is $2.43. The firm has a market capitalization of $72.77 million, a P/E ratio of -0.84 and a beta of 1.01. Aerovate Therapeutics has a 12-month low of $1.25 and a 12-month high of $32.42.

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.