Vault-13

AEROVATE THERAPEUTICS INC

COM · CUSIP 008064107

83 institutional holders +1 vs Q1 2024
27,187,93227.2m shares reported held*
$45.1mreported value*
29 new 29 added 13 reduced 31 sold out net sold ≈ $2.2m (-1.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $1.66. Options: 11 managers hold calls ($553.0k notional), 9 hold puts ($275.2k).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 56Q4 22: 71Q1 23: 67Q2 23: 61Q3 23: 59Q4 23: 65Q1 24: 82Q2 24: 8383Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202256
Q4 202271
Q1 202367
Q2 202361
Q3 202359
Q4 202365
Q1 202482
Q2 202483

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 22: 38 bought or addedQ4 22: 32 cut or sold outQ4 22Q1 23: 29 bought or addedQ1 23: 34 cut or sold outQ2 23: 26 bought or addedQ2 23: 24 cut or sold outQ2 23Q3 23: 24 bought or addedQ3 23: 16 cut or sold outQ4 23: 28 bought or addedQ4 23: 20 cut or sold outQ4 23Q1 24: 42 bought or addedQ1 24: 27 cut or sold outQ2 24: 58 bought or addedQ2 24: 44 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20223832
Q1 20232934
Q2 20232624
Q3 20232416
Q4 20232820
Q1 20244227
Q2 20245844

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600kQ3 23 calls: $0Q3 23 puts: $0Q3 23P/C —Q4 23 calls: $0Q4 23 puts: $0Q4 23P/C —Q1 24 calls: $0Q1 24 puts: $0Q1 24P/C —Q2 24 calls: $553.0kQ2 24 puts: $275.2kQ2 24P/C 0.50
Numbers
QuarterCallsPutsP/C
Q3 2023$0$0—
Q4 2023$0$0—
Q1 2024$0$0—
Q2 2024$553.0k$275.2k0.50

Biggest buyers

DEERFIELD MANAGEMENT COMPANY, L.P. New +1,411,608+1.4m
RA CAPITAL MANAGEMENT, L.P. Added +928,110+928.1k
Artal Group S.A. New +809,600+809.6k
MILLENNIUM MANAGEMENT LLC Added +579,392+579.4k
Opaleye Management Inc. New +440,000+440.0k
VANGUARD GROUP INC Added +433,014+433.0k
BlackRock Inc. Added +273,311+273.3k
TWO SIGMA INVESTMENTS, LP Added +255,903+255.9k
Verition Fund Management LLC New +248,952+249.0k
ADAR1 Capital Management, LLC Added +231,036+231.0k

Biggest sellers

Frazier Life Sciences Management, L.P. Sold out -1,204,867-1.2m
Cormorant Asset Management, LP Sold out -1,069,796-1.1m
BAKER BROS. ADVISORS LP Reduced -1,051,578-1.1m
GREAT POINT PARTNERS LLC Sold out -887,690-887.7k
Driehaus Capital Management LLC Sold out -794,992-795.0k
ORBIMED ADVISORS LLC Sold out -565,374-565.4k
FMR LLC Reduced -537,377-537.4k
EVENTIDE ASSET MANAGEMENT, LLC Sold out -445,500-445.5k
Point72 Asset Management, L.P. Sold out -399,824-399.8k
Ensign Peak Advisors, Inc Sold out -262,257-262.3k

Biggest calls

Ikarian Capital, LLC New $166.0k1.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $97.3k58.6k shares
FIFTH LANE CAPITAL, LP New $83.0k50.0k shares
Quarry LP New $74.7k45.0k shares
BOOTHBAY FUND MANAGEMENT, LLC New $48.8k29.4k shares
JANE STREET GROUP, LLC New $28.1k16.9k shares
CITADEL ADVISORS LLC New $18.4k11.1k shares
SIMPLEX TRADING, LLC New $17.0k10.4k shares
Caption Management, LLC New $15.6k9.4k shares
ADAR1 Capital Management, LLC New $4.2k2.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $69.9k42.1k shares
CITADEL ADVISORS LLC New $51.0k30.7k shares
MILLENNIUM MANAGEMENT LLC New $49.8k30.0k shares
CANTOR FITZGERALD, L. P. New $40.1k3.7k shares
LMR Partners LLP New $23.4k14.1k shares
BOOTHBAY FUND MANAGEMENT, LLC New $20.8k12.5k shares
SIMPLEX TRADING, LLC New $12.0k7.6k shares
GROUP ONE TRADING LLC New $8.3k5.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. New $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RA CAPITAL MANAGEMENT, L.P. 0.20% of their portfolio BOSTON, MA 9,192,0929.2m $15.3m $15.3m 0.20% Added +928.1k +928,110
2 Sofinnova Investments, Inc. 0.39% of their portfolio Menlo Park, CA 3,758,6863.8m $6.2m $6.2m 0.39% Unchanged
3 TCG Crossover Management, LLC 0.39% of their portfolio PALO ALTO, CA 2,240,8092.2m $3.7m $3.7m 0.39% Added +39.5k +39,535
4 Atlas Venture Life Science Advisors, LLC 0.31% of their portfolio CAMBRIDGE, MA 1,799,2321.8m $3.0m $3.0m 0.31% Reduced -240.0k -240,017
5 DEERFIELD MANAGEMENT COMPANY, L.P. 0.04% of their portfolio New York, NY 1,411,6081.4m $2.3m $2.3m 0.04% New
6 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,105,2891.1m $1.8m $1.8m 0.00% Added +433.0k +433,014
7 BlackRock Inc. 0.00% of their portfolio New York, NY 983,063983.1k $1.6m $1.6m 0.00% Added +273.3k +273,311
8 Artal Group S.A. 0.03% of their portfolio LUXEMBOURG, N4 809,600809.6k $1.3m $1.3m 0.03% New
9 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 641,947641.9k $1.1m $1.1m 0.00% Added +579.4k +579,392
10 BAKER BROS. ADVISORS LP 0.01% of their portfolio NEW YORK, NY 628,939628.9k $1.0m $1.0m 0.01% Reduced -1.1m -1,051,578
11 Octagon Capital Advisors LP 0.13% of their portfolio NEW YORK, NY 465,440465.4k $772.6k $772.6k 0.13% Added +61.8k +61,755
12 Opaleye Management Inc. 0.17% of their portfolio BOSTON, MA 440,000440.0k $730.4k $730.4k 0.17% New
13 Ikarian Capital, LLC 0.19% of their portfolio DALLAS, TX 367,965368.0k $610.8k $610.8k 0.19% Unchanged
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 341,190341.2k $566.4k $566.4k 0.00% Added +111.2k +111,204
15 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 317,174317.2k $526.6k $526.6k 0.00% Added +35.4k +35,414
16 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 278,816278.8k $462.8k $462.8k 0.00% Added +255.9k +255,903
17 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 248,952249.0k $413.3k $413.3k 0.00% New
18 ADAR1 Capital Management, LLC 0.08% of their portfolio AUSTIN, TX 246,936246.9k $409.9k $409.9k 0.08% Added +231.0k +231,036
19 Affinity Asset Advisors, LLC 0.05% of their portfolio NEW YORK, NY 200,000200.0k $332.0k $332.0k 0.05% New
20 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 179,493179.5k $298.0k $298.0k 0.00% New
21 GSA CAPITAL PARTNERS LLP 0.01% of their portfolio LONDON, X0 126,632126.6k $210.0k $210.0k 0.01% New
22 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 110,342110.3k $183.2k $183.2k 0.01% Added +12.5k +12,500
23 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 110,263110.3k $183.0k $183.0k 0.00% Added +99.0k +98,999
24 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 95,73795.7k $158.9k $158.9k 0.00% Reduced -2.8k -2,822
25 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 90,94890.9k $151.0k $151.0k 0.00% New
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 71,38271.4k $118.5k $118.5k 0.00% New
27 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 69,91069.9k $116.1k $116.1k 0.00% Added +56.8k +56,810
28 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 69,80069.8k $115.9k $115.9k 0.00% Added +62.0k +62,000
29 Warberg Asset Management LLC 0.03% of their portfolio WINNETKA, IL 67,44967.4k $111.3k $111.3k 0.03% New
30 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 57,08257.1k $94.8k $94.8k 0.00% New
31 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 52,08852.1k $86.5k $86.5k 0.00% Added +21.1k +21,130
32 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 51,77151.8k $85.9k $85.9k 0.00% Reduced -27.1k -27,078
33 Nan Fung Group Holdings Ltd 0.08% of their portfolio KAI TAK, K3 47,93647.9k $79.6k $79.6k 0.08% Unchanged
34 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 46,98847.0k $78.0k $78.0k 0.00% Added +19.3k +19,324
35 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 40,04740.0k $66.5k $66.5k 0.00% Unchanged
36 AlphaQuest LLC 0.01% of their portfolio New York, NY 32,85632.9k $54.5k $54.5k 0.01% Added +28.2k +28,230
37 Cubist Systematic Strategies, LLC 0.00% of their portfolio STAMFORD, CT 31,89431.9k $52.9k $52.9k 0.00% New
38 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 31,72331.7k $52.7k $52.7k 0.00% Added +26.9k +26,944
39 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 24,90024.9k $41.3k $41.3k 0.00% New
40 Prospera Financial Services Inc 0.00% of their portfolio Dallas, TX 23,91923.9k $39.7k $39.7k 0.00% New
41 ExodusPoint Capital Management, LP 0.00% of their portfolio NEW YORK, NY 21,72321.7k $36.0k $36.0k 0.00% New
42 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 21,14321.1k $35.1k $35.1k 0.00% New
43 GTS SECURITIES LLC 0.00% of their portfolio NEW YORK, NY 20,67320.7k $34.3k $34.3k 0.00% New
44 CORSAIR CAPITAL MANAGEMENT, L.P. 0.01% of their portfolio NEW YORK, NY 20,10020.1k $33.4k $33.4k 0.01% New
45 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 19,16019.2k $31.8k $31.8k 0.00% Added +10.2k +10,243
46 Parkwood LLC 0.00% of their portfolio CLEVELAND, OH 18,46718.5k $31.0k $31.0k 0.00% Added +739 +739
47 Values First Advisors, Inc. 0.02% of their portfolio JOHNSON CITY, TN 15,38115.4k $25.5k $25.5k 0.02% New
48 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 15,08415.1k $25.0k $25.0k 0.00% Added +462 +462
49 GG Group Ventures, LLC 0.03% of their portfolio ORLANDO, FL 13,08913.1k $22.9k $22.9k 0.03% First filing
50 ALGERT GLOBAL LLC 0.00% of their portfolio SAN FRANCISCO, CA 12,71512.7k $21.1k $21.1k 0.00% New
51 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 11,65411.7k $19.3k $19.3k 0.00% Added +2.5k +2,472
52 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 11,62811.6k $19.3k $19.3k 0.00% Reduced -3.3k -3,329
53 UBS Group AG 0.00% of their portfolio ZURICH, V8 11,05211.1k $18.3k $18.3k 0.00% Reduced -185 -185
54 Corebridge Financial, Inc. 0.00% of their portfolio HOUSTON, TX 7,2567.3k $12.0k $12.0k 0.00% First filing
55 Caption Management, LLC 0.00% of their portfolio OKLAHOMA CITY, OK 7,0007.0k $11.6k $11.6k 0.00% New
56 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 5,8535.9k $9.0k $9.0k 0.00% New
57 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,0625.1k $8.4k $8.4k 0.00% Added +1.7k +1,700
58 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 4,8814.9k $8.1k $8.1k 0.00% First filing
59 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 4,6184.6k $7.7k $7.7k 0.00% Reduced -3.3k -3,254
60 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 4,2944.3k $7.1k $7.1k 0.00% Reduced -18 -18
61 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 4,1474.1k $6.9k $6.9k 0.00% Added +2.1k +2,087
62 VIRTUS ADVISERS, LLC 0.00% of their portfolio HARTFORD, CT 3,6833.7k $6.1k $6.1k 0.00% New
63 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 3,5453.5k $5.9k $5.9k 0.00% Added +998 +998
64 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 3,4533.5k $5.7k $5.7k 0.00% New
65 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 2,8062.8k $4.7k $4.7k 0.00% New
66 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 2,2002.2k $3.7k $3.7k 0.00% Unchanged
67 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,2731.3k $2.0k $2.0k 0.00% Added +986 +986
68 Legal & General Group Plc 0.00% of their portfolio London, X0 1,1281.1k $1.9k $1.9k 0.00% Reduced -49 -49
69 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 977977 $1.6k $1.6k 0.00% Reduced -147 -147
70 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 780780 $1.3k $1.3k 0.00% Added +720 +720
71 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 772772 $1.3k $1.3k 0.00% Unchanged
72 Fortitude Family Office, LLC 0.00% of their portfolio SCOTTSDALE, AZ 416416 $691 $691 0.00% Unchanged
73 AMALGAMATED BANK 0.00% of their portfolio NEW YORK, NY 347347 $1.0k $1.0k 0.00% Unchanged
74 FMR LLC 0.00% of their portfolio BOSTON, MA 153153 $254 $254 0.00% Reduced -537.4k -537,377
75 CWM, LLC 0.00% of their portfolio OMAHA, NE 122122 $0 $0 0.00% Added +121 +121
76 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 117117 $195 $195 0.00% New
77 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 100100 $166 $166 0.00% New
78 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 8080 $133 $133 0.00% Reduced -14 -14
79 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 6969 $115 $115 0.00% New
80 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 2222 $37 $37 0.00% Added +15 +15
81 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 1111 $18 $18 0.00% New
82 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged
83 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 00 $0 $0 0.00% Reduced -5.2k -5,228