40,047 Shares in Aerovate Therapeutics, Inc. $AVTE Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in Aerovate Therapeutics, purchasing 40,047 shares valued at approximately $101,000, representing a 0.14% ownership stake in the company.
• Other institutional investors, such as Two Sigma Advisers LP and Northern Trust Corp, have also increased their stakes, indicating increased interest in Aerovate Therapeutics.
• Aerovate Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for rare cardiopulmonary diseases, currently advancing its drug candidate AV-101 for pulmonary arterial hypertension.

Nuveen LLC acquired a new position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,047 shares of the company's stock, valued at approximately $101,000. Nuveen LLC owned approximately 0.14% of Aerovate Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Two Sigma Advisers LP grew its holdings in Aerovate Therapeutics by 38.5% in the 4th quarter. Two Sigma Advisers LP now owns 153,600 shares of the company's stock worth $407,000 after buying an additional 42,700 shares in the last quarter. Northern Trust Corp grew its holdings in Aerovate Therapeutics by 6.3% in the 4th quarter. Northern Trust Corp now owns 106,692 shares of the company's stock worth $283,000 after buying an additional 6,296 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Aerovate Therapeutics in the 4th quarter worth approximately $145,000. Rhumbline Advisers lifted its position in Aerovate Therapeutics by 67.3% in the first quarter. Rhumbline Advisers now owns 22,750 shares of the company's stock worth $57,000 after purchasing an additional 9,154 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Aerovate Therapeutics in the fourth quarter worth approximately $52,000.

Aerovate Therapeutics Price Performance

AVTE opened at $7.77 on Monday. The company has a market capitalization of $225.21 million, a price-to-earnings ratio of -2.60 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 1-year low of $56.35 and a 1-year high of $105.00. The business has a 50 day moving average price of $8.43 and a two-hundred day moving average price of $35.97.

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.

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