Nuveen LLC Makes New Investment in Aerovate Therapeutics, Inc. $AVTE

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 stake in Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 40,047 shares of the company's stock, valued at approximately $101,000. Nuveen LLC owned 0.14% of Aerovate Therapeutics as of its most recent filing with the Securities & Exchange Commission.

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

Aerovate Therapeutics Trading Up 2.4%

Shares of NASDAQ:AVTE traded up $0.19 during mid-day trading on Friday, hitting $7.76. 53,233 shares of the company traded hands, compared to its average volume of 12,438. The stock has a market cap of $224.92 million, a P/E ratio of -2.60 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 12-month low of $56.35 and a 12-month high of $105.00. The stock has a 50-day moving average price of $8.17 and a two-hundred day moving average price of $33.99.

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.