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Aerovate Therapeutics (AVTE) Soars 721.88% on Merger, Dividend News
Generated by AI AgentAinvest Movers Radar
Friday, Apr 25, 2025 9:00 am ET1min read
Aerovate Therapeutics (AVTE) has seen a remarkable surge of 721.88% in pre-market trading on April 25, 2025, driven by a series of strategic announcements and corporate developments.
Aerovate Therapeutics has declared a special dividend of $69.6 million, equivalent to $2.40 per share, contingent on the successful merger with
. This dividend is set to be distributed to shareholders on record as of April 25, 2025, with the merger expected to close on April 28, 2025.The company has also announced a significant merger with Jade Biosciences, which includes a reverse stock split at a 1-for-35 ratio. This strategic move is aimed at streamlining the company's stock structure and enhancing shareholder value.
Analysts have maintained a cautious outlook on
Therapeutics, with a "Hold" recommendation and a near-term price target. The average one-year price target from industry analysts is $2.33, suggesting a potential downside of 14.84% from the current market price.
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