AVTE Stock Summary and Trading Ideas (Aerovate Therapeutics | NASDAQ:AVTE)

Aerovate Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing drugs that improve the lives of patients with rare cardiopulmonary disease. The initial focus of the company is on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension.

Aerovate Therapeutics trades on the NASDAQ stock market under the symbol AVTE.

As of January 14, 2025, AVTE stock price declined to $2.46 with 626,370 million shares trading.

AVTE has a beta of 0.73, meaning it tends to be less sensitive to market movements. AVTE has a correlation of 0.00 to the broad based SPY ETF.

AVTE has a market cap of $71.16 million. This is considered a Micro Cap stock.

In the last 3 years, AVTE traded as high as $32.42 and as low as $1.25.

The top ETF exchange traded funds that AVTE belongs to (by Net Assets): VTI, IWM, VXF, IWO, VTWO.

AVTE has underperformed the market in the last year with a price return of -87.7% while the SPY ETF gained +23.6%. However, in the short term, AVTE had mixed performance relative to the market. It has outperformed in the last 3 months, returning +15.7% vs +0.8% return in SPY. But in the last 2 weeks, AVTE shares have been beat by the market, returning -7.3% compared to an SPY return of -1.0%.

AVTE support price is $2.44 and resistance is $2.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AVTE shares will trade within this expected range on the day.