Aerovate Therapeutics, Inc. $AVTE Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Aerovate Therapeutics by 12.2%, owning a total of 352,669 shares valued at approximately $885,000 at the end of the first quarter.
• Other investors have also adjusted their holdings, including Two Sigma Advisers LP with a 38.5% increase, bringing its total to 153,600 shares valued at $407,000.
• Aerovate Therapeutics shares have recently seen a decline of 3.8%, with the stock currently trading at $7.42, reflecting a significant drop from its twelve month high of $105.00.

Goldman Sachs Group Inc. raised its stake in Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 12.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,669 shares of the company's stock after purchasing an additional 38,300 shares during the quarter. Goldman Sachs Group Inc. owned about 1.22% of Aerovate Therapeutics worth $885,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Two Sigma Advisers LP grew its stake 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 acquiring an additional 42,700 shares in the last quarter. Northern Trust Corp boosted its stake in Aerovate Therapeutics by 6.3% in the fourth quarter. Northern Trust Corp now owns 106,692 shares of the company's stock valued at $283,000 after acquiring an additional 6,296 shares during the period. BNP Paribas Financial Markets acquired a new position in Aerovate Therapeutics in the fourth quarter valued at approximately $145,000. Invesco Ltd. acquired a new position in Aerovate Therapeutics in the first quarter valued at approximately $187,000. Finally, Rhumbline Advisers raised its holdings 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.

Aerovate Therapeutics Trading Down 3.8%

AVTE opened at $7.42 on Tuesday. Aerovate Therapeutics, Inc. has a twelve month low of $56.35 and a twelve month high of $105.00. The stock has a market cap of $215.07 million, a PE ratio of -2.48 and a beta of 0.95. The business's 50 day moving average is $7.79 and its 200-day moving average is $29.98.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.