Aerovate Therapeutics (NASDAQ:AVTE) Announces Earnings Results, Beats Estimates By $0.03 EPS

Aerovate Therapeutics (NASDAQ:AVTE) announced its quarterly earnings data on Tuesday. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.03, Zacks reports.

Aerovate Therapeutics Stock Down 2.7 %

AVTE stock traded down $0.07 during trading on Thursday, hitting $2.56. 442,421 shares of the company’s stock traded hands, compared to its average volume of 618,545. The stock has a market capitalization of $73.91 million, a price-to-earnings ratio of -0.88 and a beta of 1.00. Aerovate Therapeutics has a 52 week low of $1.25 and a 52 week high of $32.42. The stock has a fifty day moving average price of $2.18 and a two-hundred day moving average price of $6.33.

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.