During the recent session, Aerovate Therapeutics Inc (NASDAQ:AVTE)’s traded shares were 26.05 million, with the beta value of the company hitting 1.03. At the last check today, the stock’s price was $2.69, reflecting an intraday gain of 22.74% or $0.5. The 52-week high for the AVTE share is $32.42, that puts it down -1105.2 from that peak though still a striking 53.53% gain since the share price plummeted to a 52-week low of $1.25. The company’s market capitalization is $77.60M, and the average intraday trading volume over the past 10 days was 0.11 million shares, and the average trade volume was 209.93K shares over the past three months.
Aerovate Therapeutics Inc (AVTE) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3.00. AVTE has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.58.
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Aerovate Therapeutics Inc (NASDAQ:AVTE) trade information
Aerovate Therapeutics Inc (AVTE) registered a 22.74% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 22.74% in intraday trading to $2.69, hitting a weekly high. The stock’s 5-day price performance is 28.00%, and it has moved by 29.86% in 30 days. Based on these gigs, the overall price performance for the year is -74.67%. The short interest in Aerovate Therapeutics Inc (NASDAQ:AVTE) is 0.66 million shares and it means that shorts have 2.99 day(s) to cover.
The consensus price target of analysts on Wall Street is $2, which implies a decrease of -34.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $35 respectively. As a result, AVTE is trading at a discount of -1201.12% off the target high and 25.65% off the low.
Aerovate Therapeutics Inc (AVTE) estimates and forecasts
Statistics show that Aerovate Therapeutics Inc has underperformed its competitors in share price, compared to the industry in which it operates. Aerovate Therapeutics Inc (AVTE) shares have gone down -87.05% during the last six months, with a year-to-date growth rate less than the industry average at 4.53% against 17.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 18.30% this quarter and then jump 29.70% in the quarter after that.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -114.14%. While earnings are projected to return 9.64% in 2024.
AVTE Dividends
Aerovate Therapeutics Inc is due to release its next quarterly earnings on 2024-Aug-12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Aerovate Therapeutics Inc (NASDAQ:AVTE)’s Major holders
Aerovate Therapeutics Inc insiders own 0.02% of total outstanding shares while institutional holders control 100.20%, with the float percentage being 100.22%. RA CAPITAL MANAGEMENT, L.P. is the largest shareholder of the company, while 117.0 institutions own stock in it. As of 2024-06-30, the company held over 9.19 million shares (or 33.07% of all shares), a total value of $15.26 million in shares.
The next largest institutional holding, with 3.76 million shares, is of SOFINNOVA INVESTMENTS, INC.’s that is approximately 13.5225% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $6.24 million.
