Verition Fund Management LLC Sells 149,137 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Verition Fund Management LLC cut its holdings in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 59.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,815 shares of the company’s stock after selling 149,137 shares during the period. Verition Fund Management LLC’s holdings in Aerovate Therapeutics were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its holdings in Aerovate Therapeutics by 54,095.4% during the 3rd quarter. FMR LLC now owns 82,919 shares of the company’s stock worth $173,000 after purchasing an additional 82,766 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Aerovate Therapeutics by 226.8% during the third quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock valued at $865,000 after buying an additional 287,163 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Aerovate Therapeutics during the second quarter worth $53,000. Deerfield Management Company L.P. Series C purchased a new stake in Aerovate Therapeutics in the 2nd quarter valued at $2,343,000. Finally, Affinity Asset Advisors LLC bought a new position in Aerovate Therapeutics during the 2nd quarter valued at $332,000.

Aerovate Therapeutics Price Performance

NASDAQ AVTE opened at $2.53 on Monday. The company has a fifty day moving average price of $2.47 and a 200-day moving average price of $3.61. The firm has a market cap of $73.05 million, a price-to-earnings ratio of -0.85 and a beta of 1.01. Aerovate Therapeutics, Inc. has a 1 year low of $1.25 and a 1 year high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.03. On average, research analysts anticipate 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.