Cubist Systematic Strategies LLC acquired a new position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,894 shares of the company’s stock, valued at approximately $53,000. Cubist Systematic Strategies LLC owned about 0.11% of Aerovate Therapeutics at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AVTE. Deerfield Management Company L.P. Series C bought a new stake in Aerovate Therapeutics in the 2nd quarter worth approximately $2,343,000. Ikarian Capital LLC bought a new stake in Aerovate Therapeutics in the 1st quarter worth approximately $10,881,000. Affinity Asset Advisors LLC bought a new stake in Aerovate Therapeutics in the 2nd quarter worth approximately $332,000. SG Americas Securities LLC bought a new stake in Aerovate Therapeutics in the 2nd quarter worth approximately $298,000. Finally, Warberg Asset Management LLC bought a new stake in Aerovate Therapeutics in the 2nd quarter worth approximately $111,000.
Aerovate Therapeutics Stock Performance
Shares of Aerovate Therapeutics stock opened at $2.36 on Thursday. The stock has a market cap of $68.02 million, a price-to-earnings ratio of -0.78 and a beta of 1.04. The stock has a 50 day moving average price of $1.93 and a 200-day moving average price of $9.50. Aerovate Therapeutics, Inc. has a one year low of $1.25 and a one year high of $32.42.
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.
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