The 36-month beta value for AVTE is also noteworthy at 1.33. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for AVTE is 17.48M, and at present, short sellers hold a 5.68% of that float. The average trading volume of AVTE on April 25, 2024 was 149.23K shares.
AVTE) stock’s latest price update
Aerovate Therapeutics Inc (NASDAQ: AVTE)’s stock price has decreased by -8.70 compared to its previous closing price of 23.22. However, the company has seen a -5.78% decrease in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-03-27 that WALTHAM, Mass., March 27, 2024 (GLOBE NEWSWIRE) — Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage biopharmaceutical company focused on developing drugs that improve the lives of patients with rare cardiopulmonary disease, today announced an upcoming poster presentation at the 2024 American Thoracic Society (ATS) International Conference taking place May 17-22, 2024, in San Diego, CA. The presentation will provide baseline characteristics from patients enrolled in the dose-ranging Phase 2b portion of the Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial (IMPAHCT), a Phase 2b/Phase 3, randomized, double-blind, placebo-controlled, multi-national trial evaluating the safety and efficacy of AV-101 in adults with pulmonary arterial hypertension.
AVTE’s Market Performance
AVTE’s stock has fallen by -5.78% in the past week, with a monthly drop of -21.34% and a quarterly rise of 10.70%. The volatility ratio for the week is 9.41% while the volatility levels for the last 30 days are 9.11% for Aerovate Therapeutics Inc The simple moving average for the past 20 days is -18.69% for AVTE’s stock, with a 18.05% simple moving average for the past 200 days.
Analysts’ Opinion of AVTE
Many brokerage firms have already submitted their reports for AVTE stocks, with Jefferies repeating the rating for AVTE by listing it as a “Buy.” The predicted price for AVTE in the upcoming period, according to Jefferies is $65 based on the research report published on March 25, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see AVTE reach a price target of $35. The rating they have provided for AVTE stocks is “Equal Weight” according to the report published on December 08th, 2023.
Guggenheim gave a rating of “Buy” to AVTE, setting the target price at $36 in the report published on March 01st of the previous year.
AVTE Trading at -12.90% from the 50-Day Moving Average
After a stumble in the market that brought AVTE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -34.60% of loss for the given period.
Volatility was left at 9.11%, however, over the last 30 days, the volatility rate increased by 9.41%, as shares sank -17.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.92% upper at present.
During the last 5 trading sessions, AVTE fell by -5.78%, which changed the moving average for the period of 200-days by +17.26% in comparison to the 20-day moving average, which settled at $25.85. In addition, Aerovate Therapeutics Inc saw -6.32% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at AVTE starting from Dake Benjamin T, who sale 6,853 shares at the price of $22.37 back on Apr 17 ’24. After this action, Dake Benjamin T now owns 1,291 shares of Aerovate Therapeutics Inc, valued at $153,327 using the latest closing price.
Gillies Hunter, the CHIEF MEDICAL OFFICER of Aerovate Therapeutics Inc, sale 4,000 shares at $22.38 during a trade that took place back on Apr 17 ’24, which means that Gillies Hunter is holding 3,251 shares at $89,522 based on the most recent closing price.
Stock Fundamentals for AVTE
The total capital return value is set at -0.74. Equity return is now at value -63.95, with -57.49 for asset returns.
Based on Aerovate Therapeutics Inc (AVTE), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -84.12. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is 72.75.
Currently, EBITDA for the company is -81.31 million with net debt to EBITDA at 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.04.
Conclusion
In summary, Aerovate Therapeutics Inc (AVTE) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
