Yahoo Finance Aerovate Therapeutics Inc CEO Timothy Noyes Sells 10,000 Shares
Timothy Noyes, the Chief Executive Officer of Aerovate Therapeutics Inc (NASDAQ:AVTE), sold 10,000 shares of the company on April 1, 2024, according to a recent SEC Filing. The transaction was executed at an average price of $30 per share, resulting in a total value of $300,000.
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 46,785 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 twelve months. During this period, there have been no insider buys recorded for the company. In contrast, there have been 46 insider sells, indicating a trend of insiders disposing of their shares in the company.
The market capitalization of Aerovate Therapeutics Inc stands at $812.205 million, with the stock trading at $30 on the day of the insider's recent sale.
Investors often monitor insider transactions as they can provide insights into the company's performance and insiders' perspectives on the stock's value. However, insider transactions are not necessarily indicative of future stock performance and can be influenced by various factors, including personal financial needs and portfolio diversification strategies.
The SEC filing provides detailed information about the transaction, allowing shareholders and potential investors to stay informed about significant insider activity within Aerovate Therapeutics Inc.
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