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Potential Price Increase for Aerovate Therapeutics Inc (AVTE) After Recent Insider Activity

Aerovate Therapeutics Inc’s filing revealed that its CHIEF TECHNICAL OFFICER Verwijs Marinus unloaded Company’s shares for reported $41631.0 on May 02 ’24. In the deal valued at $21.02 per share,1,981 shares were sold. As a result of this transaction, Verwijs Marinus now holds 0 shares worth roughly $0.0.

Then, NOYES TIMOTHY P sold 11,357 shares, generating $230,946 in total proceeds. Upon selling the shares at $20.34, the CHIEF EXECUTIVE OFFICER now owns 0 shares.

Before that, Dake Benjamin T sold 6,853 shares. Aerovate Therapeutics Inc shares valued at $153,327 were divested by the insider at a price of $22.37 per share. As a result of the transaction, Dake Benjamin T now holds 1,291 shares, worth roughly $24890.480000000003.

A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in early December with a ‘”an Equal weight”‘ rating. Guggenheim began covering AVTE with “Buy” recommendation on March 01, 2023. BTIG Research revised its rating on December 06, 2022. It rated AVTE as “a Buy” which previously was an “a Neutral”.

Price Performance Review of AVTE

On Tuesday, Aerovate Therapeutics Inc [NASDAQ:AVTE] saw its stock jump 0.73% to $19.28. Over the last five days, the stock has lost -5.68%. Aerovate Therapeutics Inc shares have fallen nearly -14.80% since the year began. Nevertheless, the stocks have fallen -8.67% over the past one year. While a 52-week high of $32.42 was reached on 04/01/24, a 52-week low of $9.41 was recorded on 02/02/24. SMA at 50 days reached $24.23, while 200 days put it at $18.22. A total of 0.25 million shares were traded, compared to the trading of 0.23 million shares in the previous session.

Levels Of Support And Resistance For AVTE Stock

The 24-hour chart illustrates a support level at 18.25, which if violated will result in even more drops to 17.21. On the upside, there is a resistance level at 20.44. A further resistance level may holdings at 21.59. The Relative Strength Index (RSI) on the 14-day chart is 36.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.36%. Stochastics %K at 11.41% indicates the stock is a buying.

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