Millennium Management LLC Lowers Stock Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Millennium Management LLC lessened its holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 66.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,698 shares of the company's stock after selling 130,946 shares during the quarter. Millennium Management LLC owned 0.23% of Aerovate Therapeutics worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AVTE. Braidwell LP bought a new stake in Aerovate Therapeutics in the fourth quarter worth about $3,817,000. ADAR1 Capital Management LLC raised its stake in shares of Aerovate Therapeutics by 720.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 928,016 shares of the company's stock valued at $2,459,000 after buying an additional 814,941 shares during the period. Allostery Investments LP purchased a new position in shares of Aerovate Therapeutics during the 4th quarter valued at $2,254,000. Affinity Asset Advisors LLC lifted its position in shares of Aerovate Therapeutics by 33.3% during the 4th quarter. Affinity Asset Advisors LLC now owns 800,000 shares of the company's stock valued at $2,120,000 after buying an additional 200,000 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Aerovate Therapeutics during the 4th quarter worth $1,590,000.

Aerovate Therapeutics Stock Performance

NASDAQ AVTE traded down $0.09 during trading on Friday, hitting $6.94. 271,750 shares of the company's stock traded hands, compared to its average volume of 19,176. The stock has a market capitalization of $201.16 million, a price-to-earnings ratio of -2.32 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 12-month low of $43.75 and a 12-month high of $884.98. The business has a 50 day moving average of $36.88 and a 200-day moving average of $70.93.

Aerovate Therapeutics (NASDAQ:AVTE - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported ($3.15) earnings per share for the quarter, beating analysts' consensus estimates of ($10.50) by $7.35. On average, analysts expect that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current year.

Aerovate Therapeutics Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 25th were given a dividend of $84.00 per share. The ex-dividend date was Tuesday, April 29th.

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.