Aerovate Therapeutics Inc’s recent filing unveils that its Director RA CAPITAL MANAGEMENT, L.P. acquired Company’s shares for reported $1.55 million on Jun 17 ’24. In the deal valued at $1.67 per share,928,110 shares were bought. As a result of this transaction, RA CAPITAL MANAGEMENT, L.P. now holds 7,893,678 shares worth roughly $19.97 million.
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Then, Eldridge George A sold 15,000 shares, generating $375,450 in total proceeds. Upon selling the shares at $25.03, the insider now owns 5,022 shares.
Before that, Verwijs Marinus sold 10,600 shares. Aerovate Therapeutics Inc shares valued at $265,000 were divested by the CHIEF TECHNICAL OFFICER at a price of $25.00 per share. As a result of the transaction, Verwijs Marinus now holds 0 shares, worth roughly $0.0.
Wells Fargo downgraded its Aerovate Therapeutics Inc [AVTE] rating to an Equal weight from a an Overweight in a research note published on June 18, 2024; the price target was decreased to $2 from $35. A number of analysts have revised their coverage, including TD Cowen’s analysts, who decreased its forecast for the stock in mid June from “a Buy” to “a Hold”. Evercore ISI also remained covering AVTE and has decreased its forecast on June 18, 2024 with a “an In-line” recommendation from previously “an Outperform” rating. Wedbush revised its rating on June 17, 2024. It rated AVTE as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of AVTE
On Friday, Aerovate Therapeutics Inc [NASDAQ:AVTE] saw its stock fall -1.17% to $2.53. Over the last five days, the stock has lost -6.99%. Aerovate Therapeutics Inc shares have fallen nearly -88.82% since the year began. Nevertheless, the stocks have fallen -82.64% over the past one year. While a 52-week high of $32.42 was reached on 04/01/24, a 52-week low of $1.25 was recorded on 06/20/24. SMA at 50 days reached $2.21, while 200 days put it at $11.44.
Levels Of Support And Resistance For AVTE Stock
The 24-hour chart illustrates a support level at 2.51, which if violated will result in even more drops to 2.50. On the upside, there is a resistance level at 2.56. A further resistance level may holdings at 2.60. The Relative Strength Index (RSI) on the 14-day chart is 55.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.63%. Stochastics %K at 51.20% indicates the stock is a holding.
How much short interest is there in Aerovate Therapeutics Inc?
A steep rise in short interest was recorded in Aerovate Therapeutics Inc stocks on 2024-10-31, dropping by -0.3 million shares to a total of 0.55 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 0.85 million shares. There was a decline of -53.97%, which implies that there is a negative sentiment for the stock.
