Ergoteles LLC Has $175,000 Stock Holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Ergoteles LLC cut its holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Rating) by 41.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,574 shares of the company’s stock after selling 7,426 shares during the quarter. Ergoteles LLC’s holdings in Aerovate Therapeutics were worth $175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Aerovate Therapeutics by 49.8% in the first quarter. JPMorgan Chase & Co. now owns 9,007 shares of the company’s stock valued at $165,000 after acquiring an additional 2,995 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Aerovate Therapeutics by 28.0% in the first quarter. Bank of New York Mellon Corp now owns 30,487 shares of the company’s stock valued at $559,000 after acquiring an additional 6,674 shares during the last quarter. BlackRock Inc. boosted its holdings in Aerovate Therapeutics by 2.3% in the first quarter. BlackRock Inc. now owns 746,934 shares of the company’s stock valued at $13,691,000 after acquiring an additional 17,126 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Aerovate Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 480,110 shares of the company’s stock valued at $8,801,000 after acquiring an additional 11,795 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in Aerovate Therapeutics by 21.3% in the first quarter. American International Group Inc. now owns 6,494 shares of the company’s stock valued at $119,000 after acquiring an additional 1,140 shares during the last quarter.

Insiders Place Their Bets

In other Aerovate Therapeutics news, CEO Timothy P. Noyes sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $22.68, for a total transaction of $340,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Timothy P. Noyes sold 15,000 shares of Aerovate Therapeutics stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $22.68, for a total transaction of $340,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Benjamin T. Dake sold 10,284 shares of Aerovate Therapeutics stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $24.59, for a total value of $252,883.56. Following the transaction, the insider now owns 1,609 shares in the company, valued at approximately $39,565.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,579 shares of company stock worth $2,210,564. Insiders own 17.80% of the company’s stock.

Aerovate Therapeutics Trading Down 3.6 %

Shares of AVTE opened at $23.03 on Wednesday. Aerovate Therapeutics, Inc. has a 1 year low of $10.52 and a 1 year high of $30.79. The stock has a market cap of $562.16 million, a P/E ratio of -14.67 and a beta of 0.47. The stock’s 50-day moving average price is $25.08 and its two-hundred day moving average price is $21.53.

Analysts Set New Price Targets

AVTE has been the topic of several recent research reports. BTIG Research upgraded Aerovate Therapeutics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, December 6th. Wedbush raised their target price on Aerovate Therapeutics from $27.00 to $54.00 in a report on Monday, December 12th. Finally, Guggenheim assumed coverage on Aerovate Therapeutics in a report on Tuesday, February 28th. They set a “buy” rating and a $36.00 target price on the stock.

About Aerovate Therapeutics

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Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company 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.