Charles Schwab Investment Management Inc. Reduces Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Charles Schwab Investment Management Inc. trimmed its holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 43.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,351 shares of the company’s stock after selling 22,737 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.10% of Aerovate Therapeutics worth $61,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Deerfield Management Company L.P. Series C purchased a new stake in Aerovate Therapeutics in the second quarter worth $2,343,000. GSA Capital Partners LLP grew its holdings in shares of Aerovate Therapeutics by 226.8% in the third quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock worth $865,000 after purchasing an additional 287,163 shares during the last quarter. XTX Topco Ltd purchased a new position in Aerovate Therapeutics in the 2nd quarter worth about $35,000. Affinity Asset Advisors LLC bought a new stake in Aerovate Therapeutics during the 2nd quarter valued at about $332,000. Finally, SG Americas Securities LLC purchased a new stake in Aerovate Therapeutics in the 2nd quarter valued at about $298,000.

Aerovate Therapeutics Stock Performance

Aerovate Therapeutics stock opened at $2.53 on Friday. The company has a market capitalization of $73.05 million, a PE ratio of -0.85 and a beta of 1.01. The company has a 50 day moving average price of $2.52 and a 200-day moving average price of $3.29. Aerovate Therapeutics, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.03. On average, analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 earnings per share for the current year.

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.