Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Sees Large Increase in Short Interest

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,020,000 shares, a growth of 6.9% from the January 15th total of 3,760,000 shares. Currently, 20.5% of the company’s shares are sold short. Based on an average daily trading volume, of 221,800 shares, the days-to-cover ratio is currently 18.1 days.

Aerovate Therapeutics Trading Down 0.4 %

Shares of Aerovate Therapeutics stock opened at $2.45 on Tuesday. The business’s fifty day moving average price is $2.56 and its 200 day moving average price is $2.31. Aerovate Therapeutics has a twelve month low of $1.25 and a twelve month high of $32.42.

Hedge Funds Weigh In On Aerovate Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Deltec Asset Management LLC acquired a new stake in Aerovate Therapeutics during the 4th quarter worth approximately $514,000. GSA Capital Partners LLP increased its position in shares of Aerovate Therapeutics by 226.8% in the third quarter. GSA Capital Partners LLP now owns 413,795 shares of the company’s stock worth $865,000 after acquiring an additional 287,163 shares in the last quarter. Barclays PLC increased its position in shares of Aerovate Therapeutics by 310.8% in the third quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after acquiring an additional 14,354 shares in the last quarter. State Street Corp raised its stake in shares of Aerovate Therapeutics by 7.7% in 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 during the period. Finally, FMR LLC lifted its holdings in shares of Aerovate Therapeutics by 54,095.4% during the 3rd quarter. FMR LLC now owns 82,919 shares of the company’s stock valued at $173,000 after acquiring an additional 82,766 shares in the last quarter.

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.