Two Sigma Investments LP Trims Position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Two Sigma Investments LP reduced its holdings in shares of Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,121 shares of the company's stock after selling 86,993 shares during the quarter. Two Sigma Investments LP owned 0.78% of Aerovate Therapeutics worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings 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. Russell Investments Group Ltd. lifted its stake in shares of Aerovate Therapeutics by 110.7% in the 4th 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 during the period. Ieq Capital LLC purchased a new position in shares of Aerovate Therapeutics in the fourth quarter worth approximately $38,000. XTX Topco Ltd purchased a new position in shares of Aerovate Therapeutics in the fourth quarter worth approximately $63,000. Finally, Harvest Investment Services LLC purchased a new stake in shares of Aerovate Therapeutics during the fourth quarter worth about $63,000.

Aerovate Therapeutics Stock Down 0.4%

NASDAQ AVTE traded down $0.03 during trading hours on Thursday, reaching $7.03. The company's stock had a trading volume of 297,915 shares, compared to its average volume of 19,128. Aerovate Therapeutics, Inc. has a 1 year low of $43.75 and a 1 year high of $884.98. The company has a market capitalization of $203.76 million, a price-to-earnings ratio of -2.35 and a beta of 0.95. The firm's 50-day moving average price is $38.51 and its 200-day moving average price is $71.53.

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

Aerovate Therapeutics Dividend Announcement

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

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.