- Aerovate Therapeutics (AVTE, Financial) announces significant merger with Jade Biosciences.
- The merger includes a reverse stock split at a 1-for-35 ratio.
- Analysts' average price target for AVTE suggests a potential downside of 14.84%.
Aerovate Therapeutics (AVTE) has recently secured shareholder approval for a strategic merger with Jade Biosciences, which is accompanied by a reverse stock split at a 1-for-35 ratio. This merger is poised to close imminently, post which the integrated entity will commence trading under the name "Jade Biosciences" with the new ticker symbol "JBIO."
Wall Street Analysts Forecast
Renowned analysts have set a one-year price target for Aerovate Therapeutics Inc. (AVTE, Financial), with an average target price of $2.33. The estimates vary, with a high projection of $3.00 and a low of $2.00, reflecting a potential downside of 14.84% from the current share price of $2.74. Investors can explore more comprehensive estimate data on the Aerovate Therapeutics Inc (AVTE) Forecast page.
The consensus from four major brokerage firms assigns Aerovate Therapeutics Inc. (AVTE, Financial) an average brokerage recommendation of 3.0. This positions the company at a "Hold" status on the rating scale that spans from 1 to 5, where 1 indicates a Strong Buy and 5 suggests a Sell.
