Two Sigma Investments LP Cuts Stock Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Two Sigma Investments LP decreased its holdings in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 27.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 226,121 shares of the company’s stock after selling 86,993 shares during the period. Two Sigma Investments LP owned approximately 0.78% of Aerovate Therapeutics worth $599,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Ieq Capital LLC acquired a new position in Aerovate Therapeutics in the fourth quarter valued at approximately $38,000. Russell Investments Group Ltd. grew its holdings in Aerovate Therapeutics by 110.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company’s stock valued at $40,000 after buying an additional 7,977 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Aerovate Therapeutics during the 4th quarter worth $63,000. Harvest Investment Services LLC purchased a new position in shares of Aerovate Therapeutics during the 4th quarter worth $63,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Aerovate Therapeutics during the 4th quarter worth $98,000.

Aerovate Therapeutics Trading Up 4.4%

AVTE opened at $7.19 on Monday. The firm has a market cap of $208.40 million, a price-to-earnings ratio of -2.40 and a beta of 0.95. The stock’s 50-day moving average price is $43.33 and its 200 day moving average price is $73.03. Aerovate Therapeutics, Inc. has a 12-month low of $43.75 and a 12-month high of $884.98.

Aerovate Therapeutics (NASDAQ:AVTE) last posted its quarterly earnings results on Friday, April 25th. The company reported ($3.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($10.50) by $7.35. On average, research analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 earnings per share for the current year.

Aerovate Therapeutics Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 25th were given a $84.00 dividend. The ex-dividend date was Tuesday, April 29th.

Aerovate Therapeutics 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.