Wedbush Research Analysts Raise Earnings Estimates for AVTE

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) – Investment analysts at Wedbush lifted their FY2024 earnings estimates for shares of Aerovate Therapeutics in a report issued on Wednesday, November 13th. Wedbush analyst L. Chico now expects that the company will post earnings per share of ($2.85) for the year, up from their prior forecast of ($2.91). The consensus estimate for Aerovate Therapeutics’ current full-year earnings is ($2.74) per share. Wedbush also issued estimates for Aerovate Therapeutics’ FY2025 earnings at ($1.14) EPS.

Aerovate Therapeutics Stock Down 1.2 %

Shares of AVTE opened at $2.53 on Friday. Aerovate Therapeutics has a 52-week low of $1.25 and a 52-week high of $32.42. The stock has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $6.18. The company has a market capitalization of $73.05 million, a PE ratio of -0.85 and a beta of 1.00.

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

Institutional Investors Weigh In On Aerovate Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C purchased a new position in shares of Aerovate Therapeutics during the 2nd quarter worth $2,343,000. Vanguard Group Inc. lifted its position in Aerovate Therapeutics by 7.2% in the first quarter. Vanguard Group Inc. now owns 672,275 shares of the company’s stock valued at $19,879,000 after buying an additional 45,444 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Aerovate Therapeutics by 226.8% during the third quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock worth $865,000 after buying an additional 287,163 shares during the period. Ikarian Capital LLC acquired a new stake in shares of Aerovate Therapeutics during the first quarter valued at about $10,881,000. Finally, State Street Corp raised its stake in shares of Aerovate Therapeutics by 7.7% in the 3rd quarter. State Street Corp now owns 367,468 shares of the company’s stock valued at $768,000 after acquiring an additional 26,278 shares during the period.

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.