Investors Buy High Volume of Aerovate Therapeutics Call Options (NASDAQ:AVTE)

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) was the target of some unusual options trading on Thursday. Investors acquired 3,010 call options on the stock. This represents an increase of approximately 338% compared to the average daily volume of 687 call options.

Institutional Investors Weigh In On Aerovate Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of AVTE. Deerfield Management Company L.P. Series C acquired a new position in shares of Aerovate Therapeutics in the 2nd quarter worth $2,343,000. GSA Capital Partners LLP increased its stake in Aerovate Therapeutics by 226.8% in the 3rd 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 in the last quarter. Affinity Asset Advisors LLC acquired a new stake in Aerovate Therapeutics during the 2nd quarter worth about $332,000. FMR LLC lifted its stake in Aerovate Therapeutics by 54,095.4% during the third quarter. FMR LLC now owns 82,919 shares of the company’s stock valued at $173,000 after buying an additional 82,766 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Aerovate Therapeutics during the fourth quarter valued at about $198,000.

Aerovate Therapeutics Stock Down 1.2 %

Aerovate Therapeutics stock traded down $0.03 during midday trading on Thursday, hitting $2.43. The company’s stock had a trading volume of 30,513 shares, compared to its average volume of 295,836. Aerovate Therapeutics has a 12 month low of $1.25 and a 12 month high of $32.42. The company has a market capitalization of $70.18 million, a PE ratio of -0.81 and a beta of 1.00. The stock’s 50-day moving average price is $2.61 and its 200-day moving average price is $2.19.

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