Aerovate Therapeutics, Inc. (NASDAQ:AVTE) Short Interest Update

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 4,020,000 shares, an increase of 6.9% from the January 15th total of 3,760,000 shares. Currently, 20.5% of the company’s stock are sold short. Based on an average daily trading volume, of 221,800 shares, the days-to-cover ratio is presently 18.1 days.

Aerovate Therapeutics Trading Down 0.4 %

Shares of NASDAQ:AVTE opened at $2.45 on Tuesday. The business’s 50-day simple moving average is $2.56 and its 200 day simple moving average is $2.31. Aerovate Therapeutics has a one year low of $1.25 and a one year high of $32.42.

Institutional Trading of Aerovate Therapeutics

A number of hedge funds have recently made changes to their positions in AVTE. Ieq Capital LLC purchased a new position in shares of Aerovate Therapeutics in the fourth quarter valued at $38,000. Barclays PLC grew its stake in Aerovate Therapeutics by 310.8% in the third quarter. Barclays PLC now owns 18,972 shares of the company’s stock worth $39,000 after purchasing an additional 14,354 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Aerovate Therapeutics by 110.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,184 shares of the company’s stock valued at $40,000 after buying an additional 7,977 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Aerovate Therapeutics in the fourth quarter valued at about $52,000. Finally, Harvest Investment Services LLC acquired a new stake in Aerovate Therapeutics during the fourth quarter valued at approximately $63,000.

About Aerovate Therapeutics

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. It focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.