Geode Capital Management LLC Sells 25,287 Shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Geode Capital Management LLC trimmed its position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,887 shares of the company’s stock after selling 25,287 shares during the period. Geode Capital Management LLC owned approximately 1.01% of Aerovate Therapeutics worth $610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVTE. XTX Topco Ltd bought a new stake in Aerovate Therapeutics in the 2nd quarter valued at about $35,000. Barclays PLC increased its position in Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock valued at $39,000 after buying an additional 14,354 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Aerovate Therapeutics in the 2nd quarter valued at about $53,000. Quest Partners LLC increased its position in Aerovate Therapeutics by 610.2% in the 2nd quarter. Quest Partners LLC now owns 32,856 shares of the company’s stock valued at $55,000 after buying an additional 28,230 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Aerovate Therapeutics by 69.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,988 shares of the company’s stock valued at $78,000 after buying an additional 19,324 shares in the last quarter.

Aerovate Therapeutics Stock Performance

Shares of AVTE opened at $2.55 on Friday. The stock has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $2.17. The firm has a market capitalization of $73.63 million, a P/E ratio of -0.85 and a beta of 1.00. Aerovate Therapeutics, Inc. has a 52 week low of $1.25 and a 52 week high of $32.42.

Aerovate Therapeutics (NASDAQ:AVTE) last issued 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. On average, equities analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 earnings per share for the current year.

About Aerovate Therapeutics

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.