Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Stock Position Decreased by Millennium Management LLC

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ieq Capital LLC bought a new position in Aerovate Therapeutics during the 4th quarter valued at $38,000. Russell Investments Group Ltd. boosted its stake in Aerovate Therapeutics by 110.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company's stock valued at $40,000 after purchasing an additional 7,977 shares in the last quarter. XTX Topco Ltd bought a new position in Aerovate Therapeutics during the 4th quarter valued at $63,000. Harvest Investment Services LLC bought a new position in Aerovate Therapeutics during the 4th quarter valued at $63,000. Finally, Corient Private Wealth LLC bought a new position in Aerovate Therapeutics during the 4th quarter valued at $98,000.

Aerovate Therapeutics Stock Down 2.6%

NASDAQ AVTE traded down $0.18 on Monday, reaching $6.76. 240,117 shares of the stock traded hands, compared to its average volume of 19,273. The firm's fifty day simple moving average is $33.64 and its 200 day simple moving average is $69.43. The company has a market cap of $195.94 million, a price-to-earnings ratio of -2.26 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 12 month low of $43.75 and a 12 month high of $105.00.

Aerovate Therapeutics (NASDAQ:AVTE - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported ($3.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($10.50) by $7.35. As a group, equities research analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

Aerovate Therapeutics Dividend Announcement

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

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.