Aerovate Therapeutics Inc [NASDAQ: AVTE] stock went on an upward path that rose over 3.75% on Thursday, amounting to a one-week price increase of more than 13.73%. The company report on March 27, 2024 at 9:20 AM that Aerovate Therapeutics to Present Patient Baseline Characteristics of the Phase 2b Portion of the Phase 2b/Phase 3 IMPAHCT Trial at the American Thoracic Society 2024 International Conference.
“We look forward to presenting baseline characteristics of the Phase 2b portion of the IMPAHCT trial in our poster presentation at the upcoming ATS conference in May,” said Tim Noyes, Chief Executive Officer at Aerovate Therapeutics. “These data will provide insight into the IMPAHCT patient population as we continue Phase 3 trial recruitment globally and expect to present top line Phase 2b data in June.”.
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Over the last 12 months, AVTE stock rose by 54.25%. The one-year Aerovate Therapeutics Inc stock forecast points to a potential upside of 35.48. The average equity rating for AVTE stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $823.82 million, with 27.76 million shares outstanding and 17.17 million shares in the current float. Compared to the average trading volume of 117.55K shares, AVTE stock reached a trading volume of 216915 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Aerovate Therapeutics Inc [AVTE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVTE shares is $45.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVTE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Aerovate Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 25, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on December 08, 2023, representing the official price target for Aerovate Therapeutics Inc stock. Previously, the target price had yet another raise to $36, while Guggenheim analysts kept a Buy rating on AVTE stock.
The Average True Range (ATR) for Aerovate Therapeutics Inc is set at 2.41 The Price to Book ratio for the last quarter was 7.50, with the Price to Cash per share for the same quarter was set at 4.39.
AVTE Stock Performance Analysis:
Aerovate Therapeutics Inc [AVTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.73. With this latest performance, AVTE shares gained by 28.06% in over the last four-week period, additionally plugging by 117.11% over the last 6 months – not to mention a rise of 54.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVTE stock in for the last two-week period is set at 65.85, with the RSI for the last a single of trading hit 68.91, and the three-weeks RSI is set at 63.95 for Aerovate Therapeutics Inc [AVTE]. The present Moving Average for the last 50 days of trading for this stock 22.16, while it was recorded at 27.29 for the last single week of trading, and 17.19 for the last 200 days.
Insight into Aerovate Therapeutics Inc Fundamentals:
Aerovate Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.04 and a Current Ratio set at 7.04.
AVTE Stock EPS
With the latest financial reports released by the company, Aerovate Therapeutics Inc posted -0.67/share EPS, while the average EPS was predicted by analysts to be reported at -0.6/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVTE.
Aerovate Therapeutics Inc [AVTE] Institutonal Ownership Details
The top three institutional holders of AVTE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AVTE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AVTE stock with ownership which is approximately 5.8325%.
