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The closing price of Aerovate Therapeutics Inc (NASDAQ: AVTE) was $1.65 for the day, up 1.85% from the previous closing price of $1.62. In other words, the price has increased by $1.85 from its previous closing price. On the day, 0.6 million shares were traded. AVTE stock price reached its highest trading level at $1.7 during the session, while it also had its lowest trading level at $1.57.
Ratios:
Our analysis of AVTE’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 6.65 and its Current Ratio is at 6.65. In the meantime, Its Debt-to-Equity ratio is 0.01 whereas as Long-Term Debt/Eq ratio is at 0.00.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Wells Fargo on June 18, 2024, Downgraded its rating to Equal Weight and sets its target price to $2 from $35 previously.
Evercore ISI Downgraded its Outperform to In-line on June 18, 2024, whereas the target price for the stock was revised from $27 to $2.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jun 17 ’24 when RA CAPITAL MANAGEMENT, L.P. bought 928,110 shares for $1.67 per share. The transaction valued at 1,549,944 led to the insider holds 7,893,678 shares of the business.
Eldridge George A sold 15,000 shares of AVTE for $375,450 on Jun 14 ’24. The insider now owns 5,022 shares after completing the transaction at $25.03 per share. On Jun 14 ’24, another insider, Verwijs Marinus, who serves as the CHIEF TECHNICAL OFFICER of the company, sold 10,600 shares for $25.00 each. As a result, the insider received 265,000 and left with 0 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, AVTE now has a Market Capitalization of 48709688 and an Enterprise Value of -49873916.
Stock Price History:
The Beta on a monthly basis for AVTE is 1.02, which has changed by -0.89776164 over the last 52 weeks, in comparison to a change of 0.25510752 over the same period for the S&P500. Over the past 52 weeks, AVTE has reached a high of $32.42, while it has fallen to a 52-week low of $1.25. The 50-Day Moving Average of the stock is -89.75%, while the 200-Day Moving Average is calculated to be -90.81%.
Shares Statistics:
AVTE traded an average of 1.04M shares per day over the past three months and 2469910 shares per day over the past ten days. A total of 27.76M shares are outstanding, with a floating share count of 19.22M. Insiders hold about 33.30% of the company’s shares, while institutions hold 67.95% stake in the company. Shares short for AVTE as of 1718323200 were 2126640 with a Short Ratio of 2.05, compared to 1715731200 on 2193015. Therefore, it implies a Short% of Shares Outstanding of 2126640 and a Short% of Float of 18.84.
Earnings Estimates
The current market rating for Aerovate Therapeutics Inc (AVTE) reflects the collective analysis of 6.0 analysts closely monitoring its performance.On average, analysts expect EPS of -$0.83 for the current quarter, with a high estimate of -$0.71 and a low estimate of -$0.88, while EPS last year was -$0.76. The consensus estimate for the next quarter is -$0.69, with high estimates of -$0.22 and low estimates of -$0.93.
Analysts are recommending an EPS of between -$2.05 and -$3.6 for the fiscal current year, implying an average EPS of -$2.96. EPS for the following year is -$1.51, with 6.0 analysts recommending between -$0.16 and -$3.38.
