Closing Bell Recap: Aerovate Therapeutics Inc (AVTE) Ends at 1.56, Reflecting a 6.85 Upturn

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Aerovate Therapeutics Inc (NASDAQ: AVTE) closed the day trading at $1.56 up 6.85% from the previous closing price of $1.46. In other words, the price has increased by $6.85 from its previous closing price. On the day, 5.54 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 $1.51.

Ratios:

For a better understanding of AVTE, let’s look at its different ratios. 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:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. 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 44962788 and an Enterprise Value of -53619000.

Stock Price History:

The Beta on a monthly basis for AVTE is 0.99, which has changed by -0.90608066 over the last 52 weeks, in comparison to a change of 0.26238096 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 -92.09%, while the 200-Day Moving Average is calculated to be -91.55%.

Shares Statistics:

Over the past 3-months, AVTE traded about 767.93K shares per day on average, while over the past 10 days, AVTE traded about 4266310 shares per day. 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 67.96% stake in the company. Shares short for AVTE as of 1715731200 were 2193015 with a Short Ratio of 2.88, compared to 1713139200 on 1251584. Therefore, it implies a Short% of Shares Outstanding of 2193015 and a Short% of Float of 19.459999.

Earnings Estimates

At present, 6.0 analysts are actively evaluating the performance of Aerovate Therapeutics Inc (AVTE) in the stock market.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.

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