Nantahala Capital Management LLC Invests $1.28 Million in Aerovate Therapeutics, Inc. (NASDAQ:AVTE)

Nantahala Capital Management LLC purchased a new position in Aerovate Therapeutics, Inc. (NASDAQ:AVTE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 482,928 shares of the company's stock, valued at approximately $1,280,000. Nantahala Capital Management LLC owned 1.67% of Aerovate Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ieq Capital LLC purchased a new stake in Aerovate Therapeutics in the fourth quarter valued at approximately $38,000. Barclays PLC increased its holdings in shares of Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company's stock worth $39,000 after buying an additional 14,354 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of 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 buying an additional 7,977 shares in the last quarter. Harvest Investment Services LLC bought a new stake in shares of Aerovate Therapeutics during the 4th quarter worth $63,000. Finally, XTX Topco Ltd purchased a new position in Aerovate Therapeutics in the fourth quarter worth $63,000.

Aerovate Therapeutics Stock Up 24.8 %

Shares of Aerovate Therapeutics stock traded up $2.48 during trading on Friday, hitting $12.48. 235,465 shares of the stock traded hands, compared to its average volume of 17,803. The stock has a market cap of $361.73 million, a price-to-earnings ratio of -4.17 and a beta of 0.95. Aerovate Therapeutics, Inc. has a 52 week low of $43.75 and a 52 week high of $884.98. The firm's fifty day moving average is $82.82 and its 200-day moving average is $86.79.

Aerovate Therapeutics (NASDAQ:AVTE - Get Free Report) last announced its quarterly earnings data 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. On average, analysts forecast that Aerovate Therapeutics, Inc. will post -2.64 earnings per share 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 paid 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.