ADAR1 Capital Management LLC Increases Stock Position in Aerovate Therapeutics, Inc. $AVTE

Key Points

• ADAR1 Capital Management LLC increased its stake in Aerovate Therapeutics by 57.5% in the first quarter, acquiring an additional 533,218 shares to hold a total of 1,461,234 shares.
• Aerovate Therapeutics is currently trading at $7.90, with a market cap of approximately $228.98 million, reflecting a decline of 2.2% in its stock price.
• The company is a clinical-stage biopharmaceutical firm focused on developing treatments for rare cardiopulmonary diseases, specifically advancing the drug AV-101 for pulmonary arterial hypertension.

ADAR1 Capital Management LLC boosted its holdings in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 57.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,461,234 shares of the company's stock after buying an additional 533,218 shares during the period. ADAR1 Capital Management LLC owned approximately 5.04% of Aerovate Therapeutics worth $3,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Braidwell LP bought a new stake in Aerovate Therapeutics during the fourth quarter valued at approximately $3,817,000. Jefferies Financial Group Inc. bought a new position in Aerovate Therapeutics in the fourth quarter valued at $1,590,000. Blackstone Inc. purchased a new stake in Aerovate Therapeutics during the fourth quarter valued at about $1,324,000. Deltec Asset Management LLC boosted its holdings in shares of Aerovate Therapeutics by 86.4% in the 1st quarter. Deltec Asset Management LLC now owns 361,804 shares of the company's stock worth $908,000 after purchasing an additional 167,680 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Aerovate Therapeutics by 38.5% during the 4th quarter. Two Sigma Advisers LP now owns 153,600 shares of the company's stock valued at $407,000 after purchasing an additional 42,700 shares during the last quarter.

Aerovate Therapeutics Stock Performance

NASDAQ:AVTE traded down $0.01 during mid-day trading on Friday, reaching $7.77. The stock had a trading volume of 57,825 shares, compared to its average volume of 12,438. Aerovate Therapeutics, Inc. has a one year low of $56.35 and a one year high of $105.00. The firm has a 50 day moving average price of $8.43 and a two-hundred day moving average price of $36.30. The stock has a market capitalization of $225.21 million, a P/E ratio of -2.60 and a beta of 0.95.

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.