Aerovate Therapeutics Inc (NASDAQ: AVTE)’s stock price has decreased by -7.69 compared to its previous closing price of 1.56. However, the company has seen a -94.15% decrease in its stock price over the last five trading sessions. globenewswire.com reported 2024-06-21 that ATLANTA, June 21, 2024 (GLOBE NEWSWIRE) — Holzer & Holzer, LLC is investigating whether Aerovate Therapeutics, Inc. (“Aerovate” or the “Company”) (NASDAQ: AVTE) complied with federal securities laws. On June 17, 2024, Aerovate announced topline results from the Phase 2b portion of the Phase 2b/Phase 3 Inhaled Imatinib Pulmonary Arterial Hypertension Clinical Trial and stated that “the study did not meet its primary endpoint for improvement in pulmonary arterial hypertension (“PVR”) compared to placebo for any of the studied doses or show meaningful improvements in the secondary endpoint of change in six minute walk distance.” Following this news, the price of the Company’s stock dropped.
Is It Worth Investing in Aerovate Therapeutics Inc (NASDAQ: AVTE) Right Now?
AVTE has 36-month beta value of 1.01. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for AVTE is 19.22M, and currently, short sellers hold a 11.50% ratio of that float. The average trading volume of AVTE on June 24, 2024 was 853.88K shares.
AVTE’s Market Performance
AVTE stock saw a decrease of -94.15% in the past week, with a monthly decline of -92.00% and a quarterly a decrease of -94.41%. The volatility ratio for the week is 23.89%, and the volatility levels for the last 30 days are 13.59% for Aerovate Therapeutics Inc (AVTE). The simple moving average for the last 20 days is -90.95% for AVTE stock, with a simple moving average of -92.17% for the last 200 days.
Analysts’ Opinion of AVTE
Many brokerage firms have already submitted their reports for AVTE stocks, with Wells Fargo repeating the rating for AVTE by listing it as a “Equal Weight.” The predicted price for AVTE in the upcoming period, according to Wells Fargo is $2 based on the research report published on June 18, 2024 of the current year 2024.
Evercore ISI gave a rating of “In-line” to AVTE, setting the target price at $2 in the report published on June 18th of the current year.
AVTE Trading at -92.51% 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 -95.56% of loss for the given period.
Volatility was left at 13.59%, however, over the last 30 days, the volatility rate increased by 23.89%, as shares sank -91.77% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -94.76% lower at present.
During the last 5 trading sessions, AVTE fell by -94.27%, which changed the moving average for the period of 200-days by -90.60% in comparison to the 20-day moving average, which settled at $15.1175. In addition, Aerovate Therapeutics Inc saw -93.64% 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 RA CAPITAL MANAGEMENT, L.P., who purchase 928,110 shares at the price of $1.67 back on Jun 17 ’24. After this action, RA CAPITAL MANAGEMENT, L.P. now owns 7,893,678 shares of Aerovate Therapeutics Inc, valued at $1,549,944 using the latest closing price.
Eldridge George A sale 15,000 shares at $25.03 during a trade that took place back on Jun 14 ’24, which means that Eldridge George A is holding 5,022 shares at $375,450 based on the most recent closing price.
Stock Fundamentals for AVTE
Current profitability levels for the company are sitting at:
- -649.91 for the present operating margin
- 0.24 for the gross margin
The net margin for Aerovate Therapeutics Inc stands at -604.32. The total capital return value is set at -0.97. Equity return is now at value -80.58, with -71.09 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 -89.18. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -78.99.
Currently, EBITDA for the company is -81.31 million with net debt to EBITDA at 0.09. When we switch over and look at the enterprise to sales, we see a ratio of 239.98. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.65.
Conclusion
To put it simply, Aerovate Therapeutics Inc (AVTE) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
