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

Verition Fund Management LLC lessened its stake in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 59.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,815 shares of the company’s stock after selling 149,137 shares during the period. Verition Fund Management LLC owned about 0.35% of Aerovate Therapeutics worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AVTE. Deerfield Management Company L.P. Series C acquired a new position in shares of Aerovate Therapeutics in the second quarter worth approximately $2,343,000. GSA Capital Partners LLP boosted its stake in shares of Aerovate Therapeutics by 226.8% in the 3rd quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock valued at $865,000 after purchasing an additional 287,163 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Aerovate Therapeutics during the second quarter worth $35,000. Affinity Asset Advisors LLC bought a new position in Aerovate Therapeutics during the second quarter worth $332,000. Finally, SG Americas Securities LLC acquired a new position in Aerovate Therapeutics in the second quarter valued at $298,000.

Aerovate Therapeutics Trading Down 1.2 %

Shares of AVTE opened at $2.53 on Monday. The firm’s fifty day simple moving average is $2.47 and its two-hundred day simple moving average is $3.61. Aerovate Therapeutics, Inc. has a 12 month low of $1.25 and a 12 month high of $32.42. The stock has a market capitalization of $73.05 million, a P/E ratio of -0.85 and a beta of 1.01.

Aerovate Therapeutics (NASDAQ:AVTE) last released its earnings results on Tuesday, November 12th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.03. As a group, research analysts predict that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

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.