Investors Buy Large Volume of Call Options on Aerovate Therapeutics (NASDAQ:AVTE)

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) was the target of unusually large options trading on Monday. Investors bought 9,373 call options on the company. This is an increase of 2,291% compared to the typical volume of 392 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Aerovate Therapeutics by 7.7% during the 3rd quarter. State Street Corp now owns 367,468 shares of the company’s stock valued at $768,000 after acquiring an additional 26,278 shares in the last quarter. Barclays PLC lifted its stake in Aerovate Therapeutics by 310.8% in the 3rd quarter. Barclays PLC now owns 18,972 shares of the company’s stock valued at $39,000 after acquiring an additional 14,354 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Aerovate Therapeutics during the fourth quarter worth $198,000. Deltec Asset Management LLC bought a new stake in Aerovate Therapeutics in the 4th quarter valued at $514,000. Finally, Ieq Capital LLC acquired a new position in shares of Aerovate Therapeutics in the fourth quarter valued at about $38,000.

Aerovate Therapeutics Price Performance

Shares of AVTE traded up $0.01 during mid-day trading on Monday, reaching $2.69. 586,168 shares of the company’s stock were exchanged, compared to its average volume of 613,099. Aerovate Therapeutics has a 52-week low of $1.25 and a 52-week high of $25.29. The business’s fifty day simple moving average is $2.53 and its 200-day simple moving average is $2.53. The stock has a market capitalization of $77.82 million, a PE ratio of -0.90 and a beta of 0.95.

Aerovate Therapeutics (NASDAQ:AVTE) last posted its earnings results on Friday, April 25th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.21. Equities research analysts predict that Aerovate Therapeutics will post -2.64 earnings per share for the current year.

Aerovate Therapeutics Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 25th will be given a $2.40 dividend. The ex-dividend date of this dividend is 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.