Aerovate Therapeutics Inc [NASDAQ: AVTE] traded at a low on Thursday, posting a -0.73 loss after which it closed the day’ session at $2.72.
The results of the trading session contributed to over 4803582 shares changing hands. Over the past one week, the price volatility of Aerovate Therapeutics Inc stands at 5.19% while the volatility over the past one month is 4.06%.
The market cap for AVTE stock reached $78.84 million, with 28.99 million shares outstanding and 21.13 million shares in the current float. Compared to the average trading volume of 2.67M shares, AVTE reached a trading volume of 4803582 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $3.00 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 3.00. 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.
Wells Fargo have made an estimate for Aerovate Therapeutics Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on June 18, 2024. The new note on the price target was released on June 18, 2024, representing the official price target for Aerovate Therapeutics Inc stock. Previously, the target price had yet another drop from $27 to $2, while Evercore ISI kept a In-line rating on AVTE stock. On June 17, 2024, analysts decreased their price target for AVTE shares from 41 to 3.
The Average True Range (ATR) for Aerovate Therapeutics Inc is set at 0.16 The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 2.71.
How has AVTE stock performed recently?
Aerovate Therapeutics Inc [AVTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.49. With this latest performance, AVTE shares gained by 2898.14% in over the last four-week period, additionally plugging by 3115.95% over the last 6 months – not to mention a rise of 239.44% 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 95.34, with the RSI for the last a single of trading hit 64.98, and the three-weeks RSI is set at 62.47 for Aerovate Therapeutics Inc [AVTE]. The present Moving Average for the last 50 days of trading for this stock 2.52, while it was recorded at 2.75 for the last single week of trading, and 2.31 for the last 200 days.
Aerovate Therapeutics Inc [AVTE]: Deeper insight into the fundamentals
Aerovate Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 20.93 and a Current Ratio set at 20.93.
Earnings analysis for Aerovate Therapeutics Inc [AVTE]
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Aerovate Therapeutics Inc go to 34.03%.
Insider trade positions for Aerovate Therapeutics Inc [AVTE]
There are presently around $110.80%, or 110.82%% of AVTE stock, in the hands of institutional investors. The top three institutional holders of AVTE stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 9.19 million shares, which is approximately 33.07%. SOFINNOVA INVESTMENTS, INC., holding 3.76 million shares of the stock with an approximate value of $$6.24 million in AVTE stocks shares; and SOFINNOVA INVESTMENTS, INC., currently with $$3.72 million in AVTE stock with ownership which is approximately 8.0617%.
