Chief Medical Officer Hunter Gillies Sells 7,000 Shares of Aerovate Therapeutics Inc (AVTE)
Hunter Gillies, Chief Medical Officer of Aerovate Therapeutics Inc (NASDAQ:AVTE), has sold 7,000 shares of the company on March 18, 2024, according to a recent SEC Filing. The transaction was executed at an average price of $25.87 per share, resulting in a total value of $181,090.
Aerovate Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing drugs that improve the treatment of severe cardiopulmonary diseases. The company's lead product candidate, AV-101, is an inhaled dry powder form of imatinib designed to treat pulmonary arterial hypertension (PAH), a rare and progressive disease characterized by high blood pressure in the arteries of the lungs.
Over the past year, the insider has sold a total of 45,255 shares of Aerovate Therapeutics Inc and has not made any purchases of the stock. The recent sale by the insider is part of a series of transactions that have taken place over the last year. According to the insider transaction history, there have been no insider buys and 40 insider sells in the past year.
On the day of the insider's recent sale, shares of Aerovate Therapeutics Inc were trading at $25.87, giving the company a market capitalization of $716.347 million.
The insider transaction trends at Aerovate Therapeutics Inc suggest a pattern of consistent selling by insiders over the past year, with no insider purchases reported during the same period. Investors often monitor insider buying and selling as it can provide insights into a company's internal perspective on the stock's valuation and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
