Jane Street Group LLC Trims Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Jane Street Group LLC trimmed its position in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE) by 86.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,805 shares of the company’s stock after selling 109,358 shares during the period. Jane Street Group LLC owned 0.06% of Aerovate Therapeutics worth $37,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVTE. Bank of New York Mellon Corp raised its holdings in Aerovate Therapeutics by 69.9% during the second quarter. Bank of New York Mellon Corp now owns 46,988 shares of the company’s stock valued at $78,000 after acquiring an additional 19,324 shares during the period. Quest Partners LLC grew its position in shares of Aerovate Therapeutics by 610.2% during the second quarter. Quest Partners LLC now owns 32,856 shares of the company’s stock worth $55,000 after purchasing an additional 28,230 shares in the last quarter. XTX Topco Ltd bought a new stake in Aerovate Therapeutics during the 2nd quarter valued at approximately $35,000. Cubist Systematic Strategies LLC purchased a new position in Aerovate Therapeutics in the 2nd quarter worth approximately $53,000. Finally, Affinity Asset Advisors LLC bought a new position in Aerovate Therapeutics in the 2nd quarter worth approximately $332,000.

Aerovate Therapeutics Price Performance

Shares of AVTE opened at $2.43 on Friday. Aerovate Therapeutics, Inc. has a 1 year low of $1.25 and a 1 year high of $32.42. The company has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $2.19. The firm has a market cap of $70.18 million, a P/E ratio of -0.81 and a beta of 1.00.

Aerovate Therapeutics (NASDAQ:AVTE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.03. On average, sell-side analysts anticipate 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.