Two Sigma Advisers LP Grows Holdings in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Two Sigma Advisers LP increased its stake in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,600 shares of the company's stock after buying an additional 42,700 shares during the period. Two Sigma Advisers LP owned about 0.53% of Aerovate Therapeutics worth $407,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AVTE. Deltec Asset Management LLC purchased a new stake in Aerovate Therapeutics during the fourth quarter worth about $514,000. Ieq Capital LLC purchased a new stake in Aerovate Therapeutics during the fourth quarter worth about $38,000. Corient Private Wealth LLC purchased a new stake in Aerovate Therapeutics during the fourth quarter worth about $98,000. JPMorgan Chase & Co. increased its stake in shares of Aerovate Therapeutics by 1,021.1% in the fourth quarter. JPMorgan Chase & Co. now owns 67,165 shares of the company's stock worth $178,000 after purchasing an additional 61,174 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Aerovate Therapeutics by 110.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company's stock worth $40,000 after purchasing an additional 7,977 shares in the last quarter.

Aerovate Therapeutics Price Performance

Shares of AVTE traded up $0.30 during trading hours on Friday, hitting $7.19. The company's stock had a trading volume of 567,200 shares, compared to its average volume of 19,044. The company has a market cap of $208.40 million, a price-to-earnings ratio of -2.40 and a beta of 0.95. The business has a 50 day simple moving average of $43.33 and a two-hundred day simple moving average of $73.03. Aerovate Therapeutics, Inc. has a 52-week low of $43.75 and a 52-week high of $884.98.

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

Aerovate Therapeutics Announces Dividend

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